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Aus urged to extend LDC graduation transition period for Bangladesh

Oct '21
Bangladesh Garments Manufacturers and Exporters Association (BGMEA) President Faruque Hassan recently called on Australia to extend the least developed country (LDC) graduation transition period for Bangladesh for smoother changeover. He was delivering a keynote speech on ‘Apparel Industry- Competitiveness beyond COVID-19’ at an International webinar.

“Given the fact that 83% of Bangladesh’s export earning depends on the RMG alone, which employs 10 million people including backward and forward linkage industries, and given the fact that COVID has caused severe financial distress to the industry which will take some time to recover, we request the development partners including Australia to extend the LDC graduation transition time by 12 years,” he said.

He also spoke on the declining price trend in the global apparel market that has posed a major challenge to the industry, especially at a time when the sector is struggling to turn around from impact of the pandemic.

He urged buyers and retailers to be more empathetic and rational in pricing so that a secured global market could be built where workplace and jobs would be safer and sustainable, BGMEA said in a press release.

The webinar, titled ‘Bangladesh at 50: From the test case to a development role model’, was organised by six Australian universities—University of Queensland, RMIT University, Queensland University of Technology, Griffith University, University of Southern Queensland and Macquarie University on October 7-8.

Fibre2Fashion News Desk (DS)

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