Notwithstanding the apparel export improvement lately, garment makers in Bangladesh are apprehending reversals subsequent to reports of second wave of COVID-19 hitting many countries in the West.
To deal with this imminent shock, garment exporters have now sought support from the Government, claimed media reports.
Even though at compromised price level, volume wise the industry was on a recovery path in the last 2-3 months, reportedly underlined the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Dr. Rubana Huq while adding that the industry’s now worried and observing the situation with caution.
Given how things are shaping up in the West (second wave of the pandemic), the BGMEA President expressed apprehension that buyers might hold back placing new orders and the volumes could take a hit.
Meanwhile, speaking to the media, Senior Vice-President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Mohammad Hatem reportedly said that ripple effect of the second wave of the pandemic in the US and EU has already started to impact Bangladesh’s apparel sector as some buyers have stopped on-going negotiations for placing orders.
The BKMEA Senior Vice-President as such said the Government should continue giving support to the sector as orders for the season are going to take a hit.