International Buyers Pour into Bangladesh
International buyers are pouring into Bangladesh to source for garment manufacturers following an end to the global recession. The contribution of the RMG industries to the national export increased from 77.15 for the July –October period to 77.17 percent in the July-November period.
Meanwhile another sign of recovery is the increase in the utilization declaration(UD) by the exporters from their respective trade bodies, which was experiencing a negative growth for the last few years.
Industry leaders are advising of increases in international buyers from last year and many have suggested that the orders outweigh their current production capacities. However BGMEA President Abdus Salam Murshedy, showed cause for concern at the sudden increase of raw cotton prices by 25% which in turn has affected a rise in yarn prices by 30%.
Regardless of this, the end of the global contraction is seen as a good sign for the RMG industry which is set to increase.
