Dhaka, Bangladesh (BBN)- Export orders worth about US$500 million of the readymade garment sector have already got diverted to neighbouring
nations amid the political instability in the country, apparel bodies have claimed.
“It seems that export orders are declining gradually…many entrepreneurs have failed to maintain their shipment schedules due to
frequent shutdowns. Export orders worth about US$ 500 million have already got diverted to a neighboring country following the political
instability,” they said in a joint statement on Monday.
The trade bodies of the apparel sector renewed their appeal to the political parties concerned to call off their Tuesday’s countrywide
hartal.
“Many exporters have already faced problems like discount, cancellation, deferred payment as they failed to complete shipments
in time due to the shutdowns,” it noted.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association
(BKMEA) have long been pressing the political parties concerned for refraining from enforcing hartal.
They said hartal is impeding the growth, discouraging investment, and slowing down export putting employment at risk.
The entrepreneurs said the export-oriented garment industry in the country has already been affected badly due to the global economic
downtrend and gas and electricity crises.
The foreign buyers are threatening to cancel orders in case of delay, and the exporters are facing situation like discount, cancellation
and deferred payment due to failure in maintaining shipment time, they added.
BBN/SSR/AD-02Apr13-10:40 am (BST)
