Due to a number of global factors, including the ongoing conflict in Myanmar and the US-China trade tension, foreign buyers of readymade garments are turning their attention more and more to Bangladesh, according to buying houses, which serve as local representatives of international fashion retailers and brands.
“We see that buyers are interested in Bangladesh at the moment. They are eyeing Bangladesh due to a rivalry with China,” said Kazi Iftequer Hossain, former president of the Bangladesh Garment Buying House Association, during a press conference at a city hotel.
He also added that they are in discussions with buyers about fresh purchases and have already finished summer orders. They are currently working on winter orders. Simultaneously, he issued warnings over a number of matters, including the attacks in the Red Sea by the Houthi rebels and the rise in pay for textile workers. He also voiced concern that buyers would further lower the cost of apparel if these issues are not resolved collectively.
At the press conference, the former president of the Bangladesh Garment Buying House Association demanded recognition of its member companies as trade exporters.
He claimed that their members currently handle the export equivalent of approximately $8 billion. About US $ 47 billion worth of ready-made clothing was exported by Bangladesh last year.
During the press conference, it was additionally disclosed that 600 of the association’s 1,500 members are actively involved.
They introduced the nominees under their own body, the Buyers Council.
Aminul Islam, the association’s former general secretary, was present at the function along with other prominent figures.
