'Decline in export orders may cause slump in RMG sector'
Thursday, 9 August 2007
Our Correspondent
CHITTAGONG, Aug 8: In the context of gradual decline in export orders from abroad, the country's readymade garments (RMG) sector may experience a serious disaster in the coming days, sources said.
It would eventually throw a huge number of workers out of employment, if no effective measures are taken to tackle the situation.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders made the observation in an opinion-sharing meeting at its regional office in the port city's Agrabad area recently.
BGMEA First Vice President MA Salam presided over the meeting, while its directors Ershad Ullah, Syed Ahsanul Hoque Shamim, Mahbub Ali, ANM Saifuddin and Nasir Uddin Chowdhury were present, among others, on the occasion.
The BGMEA leaders said due to imbalance of demands in the international markets as well as cancellation and reduction in current orders of the US-based big buying houses, export orders of the RMG products in favour of the country declined alarmingly.
The BGMEA leaders mentioned that in a bid to tackle the situation, owners of many garments industry are being compelled to reduce the volume of production or declare lay-off of their factories.
They also sought all-out cooperation from the concerned administrative authority in taking necessary steps to overcome the crisis persisting in the RMG sector of the country.
CHITTAGONG, Aug 8: In the context of gradual decline in export orders from abroad, the country's readymade garments (RMG) sector may experience a serious disaster in the coming days, sources said.
It would eventually throw a huge number of workers out of employment, if no effective measures are taken to tackle the situation.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders made the observation in an opinion-sharing meeting at its regional office in the port city's Agrabad area recently.
BGMEA First Vice President MA Salam presided over the meeting, while its directors Ershad Ullah, Syed Ahsanul Hoque Shamim, Mahbub Ali, ANM Saifuddin and Nasir Uddin Chowdhury were present, among others, on the occasion.
The BGMEA leaders said due to imbalance of demands in the international markets as well as cancellation and reduction in current orders of the US-based big buying houses, export orders of the RMG products in favour of the country declined alarmingly.
The BGMEA leaders mentioned that in a bid to tackle the situation, owners of many garments industry are being compelled to reduce the volume of production or declare lay-off of their factories.
They also sought all-out cooperation from the concerned administrative authority in taking necessary steps to overcome the crisis persisting in the RMG sector of the country.