Consequent to the global buyers changing their sourcing strategy owing to geopolitical tensions and disruption in production plans in apparel factories, Bangladesh’s apparel export growth this March could take a hit.
According to media reports such apprehensions have been expressed by the apex garment makers’ body of Bangladesh-the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Addressing a press meet recently in the capital Dhaka, BGMEA President Faruque Hassan reportedly underlined global buyers were changing their sourcing strategy and placing orders in small slots due to uncertainties in the global economy even as the consumers in western countries have been also becoming more interested in buying discounted apparel products, which has in turn, led the buyers to decrease the volume of work orders.
This change in the sourcing strategy by the global buyers, Faruque Hassan reportedly claimed, was upsetting the production plan of garment manufacturing units in Bangladesh, in turn.
