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RMG exporters fear slowdown in orders from Europe amid Omicron

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Desk Report: Bangladeshi clothing exporters are afraid of a decline in exports if the situation worsens, as many European countries are imposing new restrictions to contain the spread of the new coronavirus variant Omicron

If 8-10 European countries impose restrictions over the new Covid variant, that will have an impact on the apparel export from Bangladesh

Garment manufacturers are closely monitoring the developments in European countries, their major export destination. Amid fear of a temporary slowdown in export orders, some of them, however, hoped that global brands this time might not suspend orders and allow store shelves to be empty during the festival sales.

Germany, one of the major buying countries, has been facing 50,000-60,000 infections daily, while the Netherlands has already imposed lockdown said, ShahidullahAzim, Vice President, BGMEA

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BGMEA Vice-President ShahidullahAzim said, “During the last few months, brands and buyers have been putting pressure on us to ship goods quickly, but now they are asking us to slow down our production.”

According to BGMEA, during the first wave of Covid-19, the global fashion brands and buyers cancelled and suspended apparel orders worth more than $3.15 billion, affecting 1,136 factories. According to RMG makers, most of the factory booked their order till next year month of April, but they are fear if buyer hold order due to the new variant

“We have to wait until December 15th to observe how market conditions change,” said Mostafiz Uoodin, founder and chief executive officer of the Bangladesh Apparel Exchange. If you can’t sell or have an impact on your business, it will affect your business. “

Source link Bangladesh apparel exporters fear slowing orders from Europe

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