The second wave of the coronavirus pandemic in Europe – Bangladesh’s major apparel export destination – seems to be impacting work orders again!
After the first wave of the pandemic, which reportedly witnessed order cancellations and withdrawals reaching a staggering US $ 3.18 billion, the second wave of COVID-19 in Europe has already led three global buyers to cancel/hold-up orders worth US $ 6.6 million, placed with suppliers in Bangladesh this month, claimed media report.
The report quoted a top official of the garment makers’ body BGMEA (the Bangladesh Garment Manufacturers and Exporters Association), according to whom seven factories have reported order cancellations on BGMEA’s portal so far (US $ 1.97 million in order cancellations and US $ 4.63 million in suspension).
In wake of the second wave of the pandemic in Europe, the apparel makers’ body (BGMEA) has reportedly launched the portal recently to track order cancellations owing to the same.
Meanwhile, speaking to the media, a garment manufacturer reportedly maintained that since last couple of weeks some orders have been halted and buyers had also refrained from placing new work orders.