According to an economist, severe competition will be faced by Bangladesh in garment shipment to the European Union once the status will change from a least a developed country to developing country.
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The Noida Apparel Export Cluster has requested the government to ban the export of yarns and raw cotton so that more raw materials are available for the domestic apparel industry.
The Noida Apparel Export Cluster has requested the government to ban the export of yarns and raw cotton so that more raw materials are available for the domestic apparel industry.
Bangladesh’s apparel exports to the United States bounced back during the first five months of 2021, registering a double-digit growth both in terms of value and volume compared to the same period of last year.
The garment exporters in Noida and Greater Noida are losing 20% of business orders to Bangladesh, Sri Lanka and Vietnam. NAEC claims factories are now left with just 40-50% workers after migrant workers left the city.
The provisional data of the Cotton Textiles Export Promotion Council revealed that the exports of readymade garments and manmade textile declined by 20.78% and 21.20%, respectively. The final data is expected by May end.
COVID-19 has severely affected the garment industry, with exports dropping and 20% of people losing their jobs. AEPC has requested the government for an essential service tag that will free them from lockdowns.