As economies in West started opening up after months-long lockdowns and restrictions, almost all major businesses are back in action, and so are the brands and retailers. So, a victim of mass order cancellations not so long back, Bangladesh, as per recent media reports, has regained almost 80 per cent of the cancelled orders, while new work orders have also reportedly started trickling in. But on the contrary, giving a new twist to the revival claims, the apex garment makers’ body, the BGMEA, has recently come up with a report, saying that in July, only 56% of the total production capacity had been reserved, while 35% of the production capacity has been retained for the consolidated period of July-December this year. The issue thus remains debatable, as Team AOB speaks to some industry veterans to know more.
Covid-19 has posed a host of challenges for Bangladesh, which kick-started FY ’21 recently. But experts believe that despite recent export reversals in the traditional strongholds of USA and the EU, Asian markets of China and India and that of Japan can help Bangladesh apparel exporters to recover. The country has also announced export target of US $ 48 billion for the current financial year – US $ 41 billion from goods and US $ 7 billion from services sector. As expected, a lot will depend on the apparel sector. But will it be achievable? Experts share their viewpoints.