In what is seen by many as an impact of Coronavirus outbreak in China, which has led many Bangladeshi entrepreneurs especially those in the business of apparel manufacturing and textile, turn towards other countries for raw material sourcing, Bangladesh’s imports from Asian Clearing Union (ACU) member countries surged by over 18 per cent in the January-February period of this calendar year, as per media reports.
While explaining the latest trend of increasing imports from the ACU nations, an official of Bangladesh Bank (Bangladesh’s Central Bank) reportedly told the media “Some businessmen prefer to import essential items from India instead of China to avoid the outbreak of Coronavirus.”
As per the Bangladesh Bank, the trend of increased imports from ACU member countries, particularly India, has resulted in payment increasing by around US $ 1.15 billion during January-February period from earlier US $ 975 million.
It may be mentioned here that cotton, capital machinery and raw materials are amongst some major items imported by Bangladesh from India and other ACU countries.
The ACU, which started in 1975, with an aim to boost trade among member countries, involves apart from Bangladesh, India, Iran, Pakistan, Bhutan, Maldives and the island nation of Sri Lanka.
