After an unprecedented 2020 during which the Bangladesh garment industry has had to undergo numerous challenges, industry leaders are hopeful of a turnaround for the industry as well as Bangladesh’s economic recovery to start from middle of this year.
Underlining the COVID-19 pandemic has exposed the apparel industry’s vulnerability to forced closures and contract losses, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Dr. Rubana Huq, has expressed hope the industry to recover from June this year, while speaking to the media.
“We expect the apparel sector to recover from June 2021,” reportedly stated Dr. Rubana, adding, “We will mainly consolidate our business by decreasing operational expenses through restructuring while focusing on product diversification and securing new markets…”
Meanwhile, the Managing Director of Plummy Fashions Limited, Fazlul Hoque, reportedly, said ‘we experienced some negatives and a lot of positives amidst the coronavirus outbreak’, while expressing hopes Bangladesh’s economic recovery to start from June as the vaccine for COVID-19 is all set to roll out.
The Managing Director of Pacific Jeans, Syed M. Tanvir on his part, reportedly, maintained that the readymade garment industry has been one of the worst affected industries by the COVID-19 pandemic and added that Bangladesh’s initial recovery has been good but it was early yet to gauge exactly how far while expressing apprehensions as all the major export markets have been badly hit by a second wave of the pandemic.
