Orders worth $3.15 bn cancelled so far: BGMEA
15 Apr 20 1 min read
Foreign buyers have so far cancelled orders worth $3.15 billion in the wake of the novel coronavirus crisis, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), which recently said 1,134 factories have reported that 975.2 million pieces of readymade garments (RMG) worth $3.15 billion have either been cancelled or held up.
These cancellations will affect nearly 2.25 million RMG workers, it said.
“We’re facing a dire situation. All the buyers from different places, countries, and continents are suspending the orders,” BGMEA president Rubana Huq said in a video message.
BGMEA and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) announced closure of all factories until April 25 in a joint statement recently, urging factory authorities to inform respective trade bodies if any factory office remains open for disbursing wages and other payments during the period.
These cancellations will affect nearly 2.25 million RMG workers, it said.
Advertisement
“We’re facing a dire situation. All the buyers from different places, countries, and continents are suspending the orders,” BGMEA president Rubana Huq said in a video message.
BGMEA and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) announced closure of all factories until April 25 in a joint statement recently, urging factory authorities to inform respective trade bodies if any factory office remains open for disbursing wages and other payments during the period.
Fibre2Fashion News Desk (DS)
Popular News
|
|
USDA raises global cotton production & stocks in latest WASDE report |
|
|
Global benchmark prices decline over past month: Cotton Inc |
|
|
India's textile sector to soar under PM Modi's 3rd term: NITMA |
|
|
US' textiles & apparel exports down 2.8% in Jan-Apr 2024 |
|
|
Australia overtakes US as top textile consumer: Research |
|
|
ICE cotton hits 2-year lows, traders waiting to buy at low prices |
