With the removal of blockades and shutdowns economy is returning to normal working and foreign buyers of garments got back confidence to hold on with Bangladesh apparel industry.
Supply orders are rising again from international garment retailers as after the recent political violence, the industry insiders said.
Retailers are now placing lot of orders. The situation is good again, BGMEA president Atiqul Alam told media last week urging the government to maintain this stable situation to continue to encourage the buyers of the country’s ability to sort out disorders.
As a condition to continued work orders, retailers want to see a stable political situation and the industry leaders have conveyed their concerns to Commerce Minister Tofail Ahmed at a recent meeting with him at Hotel Westin Dhaka last week.
Another reason for holding the meeting was to convey a message to retailers that Bangladesh is back in business after the political upheaval, he told the media.
Buyers are regaining confidence after the general January 5 elections and they have a long-term business plan in Bangladesh, an official of Inditex, a Spanish clothing retail giant said. But they want a stable political situation on top of everything.
The official said there was a ban on travelling to Bangladesh on their company people in Spain. But it has been withdrawn by last month.
Now a good number of high-ups of company men are scheduled to visit Bangladesh next month with a lot of work orders. If a stable economic situation prevails, they will not face any major crisis and Bangladesh will remain a lucrative destination for price competitiveness, he said.
Retailers had faced uncertainty with their orders in the face of unrest when the country witnessed hartals and blockades for 74 days in 2013 and 11 days in January and February.
Garment makers could not transport goods to Chittagong port from their factories due to a volatile political situation across the country and shipment uncertainty was the biggest impediments to buyers and sellers.
As a result, international retailers started to cut travel plans to Bangladesh and in some cases called the garment makers to their headquarters in Europe and the US for business meetings.
The commerce minister urged retailers to increase the prices of garment items as workers’ wages was increased 77 percent from December last year.
The minister suggested the garment manufacturers to implement the agreements inked with the Accord on Fire and Building Safety in Bangladesh and North American Alliance for quick improvement of safety standards at work places.
Source: Weekly Holiday
