Leaders of the textiles and apparel sector trade bodies in Bangladesh recently sought 5 per cent cash incentive for export of apparel products to both traditional and non-traditional markets for the next five years to sustain production and maintain the industry’s edge in the global arena. They addressed a press conference in Dhaka recently on the issue. The press conference was jointly organised by the Bangladesh Textile Mills Association (BTMA), the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). Sustainability and competitiveness of the country’s textile and clothing industry have been affected due to rising production costs driven by a wage hike, energy price rise, compliance costs and declining international market price of local apparel items, Bangla media quoted the representatives as saying. BGMEA president Rubana Huq said the industry needs government support in the form of cash incentives for a certain period to tackle the challenges. Around 22 factories closed in the last one month as the failed to sustain production and as a result, 10,000 workers lost jobs, she informed.
Source – Fibre2Fashion.
