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28 Nov 2023

Somoy News

Bangladesh: Garment factories face 'sharp fall' in orders from buyers since minimum wage protests

"Garment industry faces crisis, foreign orders mark sharp fall", 28 November 2023

As November draws to a close, Bangladesh is still grappling to secure significant foreign orders for the upcoming business season...

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) First Vice President Syed Nazrul Islam has expressed worry over the delayed orders, attributing the hesitancy of foreign buyers to uncertainties surrounding the duration of ongoing labor movements.

The garment factories, currently focusing on spring-summer season production [has] encounter complications...as the expected second-largest order for this season has not materialised.

Chairman of the International Business Forum SM Abu Taiyab echoed concerns about the reduced number of orders, indicating a challenging year for the industry.

Rakibul Alam Chowdhury, BGMEA Vice President, mentioned the continuous assurances from buyers to confirm bookings weekly, yet by the end of November, no product orders have been received. Financial strain is evident, with difficulties in covering salaries and a lack of incoming orders...