After battling the pandemic fallouts at home (lockdowns, factory closures and Covid restrictions) and at export destinations (store closure and dwindling demand for apparels on account of the pandemic) for long, Bangladesh is making a strong comeback in terms of exports at last. “Export earnings from RMG grew by more than US $1 billion in September as both the unit prices of products and the export orders increased in recent times,” claimed BGMEA President, Faruque Hassan even as exporters maintained improving pandemic conditions in the export strongholds helped boost demand for apparel products, while closure of factories in competing countries due to the pandemic was also an advantage for
Bangladesh to gain more export share in the global market. Read a detailed report on the current ground realities.
In order to help the garment sector to adopt eco-friendly technologies and practices, the central bank of the country (Bangladesh Bank) announced plans to earmark US $500 million of lowcost ‘green fund’ for textile factories, which follows the recommendations made at a seminar jointly organised by the World Bank Group’s Trade and Competitiveness Global Practice and the Policy Research Institute of Bangladesh (PRI), which was a part of Partnership for Cleaner Textile (PaCT) project, which aims to eliminate the harmful environmental and social impact of groundwater extraction, surface water pollution and misuse of energy and chemical resources in textile wet processing to support the sector’s longterm competitiveness. …Dig into the details in the current issue.