Home / Knowledge / News / Apparel/Garments / Bangla garment accessories sector may lose Tk 1500 cr

Bangla garment accessories sector may lose Tk 1500 cr

20
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Bangladesh’s garments accessories and packaging sector may incur a loss of Tk 1,200-1,500 crore if the deadlock in import from China continues for three to four more months, according to the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association, which is concerned over the impact of the coronavirus outbreak on its members.

Association president Mohammad Abdul Kader Khan said about 40 per cent of raw materials for the sector are procured from China. Importers have suffered losses of over Tk 200 crore due to extension of Chinese New Year holidays.

Bangladesh exported garments accessories worth $7.5 billion in fiscal 2019-20, he pointed out.

He said some goods have reached ports, but there are no documents. On the other hand, there are documents, but no goods. Besides, the Chinese banks also remain closed, Bangla media reports quoted him as saying.

Signals of the Chinese holiday period extending further have created further concerns among businessmen, he said. Most of the association members’ suppliers are scheduled to open business after February 21.

At present, 1,744 registered institutions operate in the garments accessories and packaging sector in Bangladesh. The sector provides employment to over 7.5 lakh people. About 35 types of raw materials, including yarn, fabric, duplex board, white liner, thermoplastic mould, carton, sewing threads, etc, are imported from China.

The companies in the garments accessories also supply raw materials for leather and pharmaceuticals industries alongside the apparel sector, said the association.

Moreover, the association member companies cannot import materials as per their will every now and then, which adds to the problem. Even if they find alternative sources, that will add to the cost and time of procurement.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Shutterstock

Apparel/Garments | On 28th Mar 2020

Vietnam may outdo Bangladesh as 2nd largest RMG exporter

Though Bangladesh is now the second-largest garment exporter...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Morgan Stanley rules out economic depression

With COVID-19 badly damaging the global economy, Morgan Stanley...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Joachim Maier,

Joachim Maier

Switzerland-based Uster Technologies AG is the leading high technology...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search