High priced brand manufacturers were forced to opt for cheaper brands following the global meltdown in 2008. That and the prospects of slower economic growth gave rise to numerous companies catering to the more affordable products. As it stands today, in a world where recycling as opposed to wastage is the order of the day. Clothing, even food recycling is fast becoming a must as the world population grows putting pressure on agrarian land and the impact of Climate Change continuing to bite.
For developing countries such as Bangladesh, seeking to increase exports and maintain high rates of growth to bolster economic well being, this is sending signals that the export basket must change. Bangladesh is dependent on remittances and garment exports on the whole but with geo-political strife looming large through sanctions and tariff wars, recycling is gaining momentum. This means that production cycles must change if export numbers are to be achieved.
One report suggests that by 2030 102 million tonnes of fashion wear will be generated and those who can afford it will rid themselves of older wear. These will end up in landfill and there are concerns that this will do no good to the environment. Companies are emerging that seek to recycle such wear so that they can be reused not as used wear but newer versions. This will have an impact on the countless garments manufacturers in Bangladesh that are churning out newer designs, ideally fashion wear that brings in more revenue as compared to casual wear.
For years we have been hearing of garments manufacturers not making enough money due to lower prices offered by the buyers. The buyers don't sell the products cheap either. They have their margins and margin growth to think of. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have often sought the Ministry of Commerce's intervention in getting prices that are fairer. For all of the efforts buyers are pushing prices down even in the face of calling for further investment in security and safety.
Bongo Bazar is an example of the sale of used clothes and rejects and there are quite a few bargains to be made. It may well be so that such outlets with government assistance and BGMEA cooperation could provide the answer to the issue also through creating new markets in less well off areas of the world. Otherwise garments recycled abroad could well impact exports from countries such as Bangladesh.
There's also a big case for recycling locally including packaging material that ends up as landfill and they find their way to the rivers and even the Bay of Bengal. These then impact on the fish resources. Recycling is the way forward and even if it doesn't always make economic sense, government intervention is required to reduce import bills and make better use of our already scant resources.
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