Amidst fresh and stringent lockdowns in many countries in Europe on account of the second wave of the COVID-19 pandemic, many buyers in Europe have reportedly put orders on hold.
As per media reports, many European Union-based buyers have intimated their respective suppliers in Bangladesh that consequent to the reimposition of strict lockdowns in some countries from 16 December, they won’t comment on new and existing orders until 10 January 2021.
When lockdowns are imposed, buyers delay payments and stop placing orders, which affects the suppliers for at least the next 2 to 3 months, reportedly underlined the Chairman of Classic Group Shahidullah Azim while speaking to the media even as many other exporters have, reportedly, expressed apprehensions suppliers would now face big uncertainty because of the lockdown.
It may be mentioned here that lockdowns have been reimposed and restrictions tightened in many parts of Europe – France, Germany, Netherlands, Italy and Spain have either announced lockdowns or are considering to announce strict measures – ahead of the Christmas.
As per reports, Germany has already a hard lockdown amidst soaring number of new coronavirus cases, while Netherlands has also entered a five-week lockdown.
The fresh lockdowns and restrictions as imposed by many European countries are expected to hit Bangladesh’s apparel exports as EU accounts for more than 60 per cent of Bangladesh’s total exports, of which, more than 90 per cent are apparel items.