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Non-economic issues threaten RMG industry: EU
10
Aug '10
European Union (EU) has spotted a few non-economic restrictions, which are the key obstacles towards the continuous growth of Bangladesh's garment sector.

In its quarterly bulletin, which was published in July, EU has identified labour and political unrest as key obstacles, which need to be solved carefully in order to keep the garment industry on a positive pathway.

EU has also raised concern over the tough competition that Bangladesh faces from other nations in the region. It also warns the industries about power crisis, but yet has marked the non-economic issues are the prime obstacles.

As per the bulletin, Bangladesh has displayed splendid buoyancy in the past and is most likely to win over its current situation, if there are no more non-economic restriction such as labour unrest, disruption to shipping or political turmoil.

More over, although the bulletin also talks about the increase price of cotton with consequent rise in the yarn prices, it still points out that this will not affect the competitiveness of the country's garment goods, as every other nation is currently facing the same problem.

EU nations are supposedly the key markets for Bangladesh garments as 72 percent of the knitwear goods are exported there.

Fibre2Fashion News Desk - India

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