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Bangladesh garment exports up 14pc despite loss of US trade benefits
BANGLADESHI garment exports increased 14 per cent in year on year to US$24.5 billion as total exports went up 11.65 per cent to $30.1 billion, according to the Export Promotion Bureau.
The country's ready-to-wear industry employs four million people, and generates 80 per cent of domestic export earnings, reports Reuters.
Bangladesh has to do more to improve factory conditions and workers rights to win back US trade benefits denied after the collapse of a factory near Dhaka that killed 1,100 workers last year.
Bangladesh has since announced safety improvements, such as removing import duties on raw materials to make safer pre-fab buildings and ending taxes on safety equipment such as fire-resistant doors.
The garment industry had been looking for government support to buy land and relocate factories from unsafe buildings to a planned industrial park in a bid to restore the confidence of Western powers.
Global buyers have cut orders from 30 per cent of the garment factories in unsafe, shared buildings, which employ 1.5 million workers, said the Bangladesh Garment Manufacturers and Exporters Association.
US President Barack Obama revoked trade benefits for Bangladesh after the factory collapse and gave the country a checklist of things to improve.
The country's ready-to-wear industry employs four million people, and generates 80 per cent of domestic export earnings, reports Reuters.
Bangladesh has to do more to improve factory conditions and workers rights to win back US trade benefits denied after the collapse of a factory near Dhaka that killed 1,100 workers last year.
Bangladesh has since announced safety improvements, such as removing import duties on raw materials to make safer pre-fab buildings and ending taxes on safety equipment such as fire-resistant doors.
The garment industry had been looking for government support to buy land and relocate factories from unsafe buildings to a planned industrial park in a bid to restore the confidence of Western powers.
Global buyers have cut orders from 30 per cent of the garment factories in unsafe, shared buildings, which employ 1.5 million workers, said the Bangladesh Garment Manufacturers and Exporters Association.
US President Barack Obama revoked trade benefits for Bangladesh after the factory collapse and gave the country a checklist of things to improve.
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