RMG buyers destined for China, now coming to Bangladesh
Friday, 28 November 2008
We are fortunate that the global economic turmoil did not, so far, bring a major negative impact on the country's readymade garment (RMG) industry. Initially, it was apprehended that the RMG sector would face cut in orders.
Some 5,000 apparel makers had, at one stage, sought assistance from the government when some of the top US and European buyers, hit by recession, postponed or cut orders.
The RMG sector's earnings are otherwise growing, because some buyers are reportedly coming to Bangladesh due to high price of Chinese products. The RMG buyers, now eyeing cheap products, would benefit the low-end producers. Many Japanese buyers are also reportedly showing interest in Bangladesh garment products to be able to cope with the financial crisis.
Our RMG industrialists must utilise such opportunities. They should be fair in business deals. They must try to earn reputation by ensuring quality products. They ought to increase their negotiating skills. They should also meet social compliances particularly the demand of the workers, so that the buyers do not feel let down on these requirements. They should do this, not only for their personal gains but also for national economic interest.
However, the latest developments relating to some overseas buyers not executing their earlier-given export orders do give quite disconcerting signals. It is time for all concerned to have a close look at the situation and do the needful, whatever possible, to help avert any crisis.
Atiqur Rahman
Daobogh
Narayanganj
Some 5,000 apparel makers had, at one stage, sought assistance from the government when some of the top US and European buyers, hit by recession, postponed or cut orders.
The RMG sector's earnings are otherwise growing, because some buyers are reportedly coming to Bangladesh due to high price of Chinese products. The RMG buyers, now eyeing cheap products, would benefit the low-end producers. Many Japanese buyers are also reportedly showing interest in Bangladesh garment products to be able to cope with the financial crisis.
Our RMG industrialists must utilise such opportunities. They should be fair in business deals. They must try to earn reputation by ensuring quality products. They ought to increase their negotiating skills. They should also meet social compliances particularly the demand of the workers, so that the buyers do not feel let down on these requirements. They should do this, not only for their personal gains but also for national economic interest.
However, the latest developments relating to some overseas buyers not executing their earlier-given export orders do give quite disconcerting signals. It is time for all concerned to have a close look at the situation and do the needful, whatever possible, to help avert any crisis.
Atiqur Rahman
Daobogh
Narayanganj