BGMEA President Faruque Hassan has called on US buyers to reduce the number of factory inspections to reduce the cost of garment owners.
He made the call at a roundtable meeting organized by the Bangladesh Embassy in Washington DC on Friday to expand the market for readymade garments in the US market. In This program, a welcome speech was given by M Shahidul Islam, Ambassador of Bangladesh to the United States. The matter was informed in a notification sent by the embassy.
The BGMEA president urged US buyers to pay a fair price for clothing as it raises production costs for workers’ minimum wages. He added that the US government needs to consider reducing tariffs on garment exports from Bangladesh to the United States.
Christopher Wilson, the U.S. Assistant Trade Representative for South Asia, said the issue of raising or lowering import duties is a special power of the U.S. Congress. Need to continue negotiations between the two governments to reduce tariffs.
The United States is the single top market for Bangladeshi ready-made garments. Entrepreneurs of Bangladesh have exported clothes worth 594 crores dollar this market in the outgoing fiscal year 2020-21. The market was hit hardest by Corona’s first push. As a result, exports fell to 514 crores dollar in the 2019-20 fiscal year. Although its previous year’s exports were 613 billion dollars. For the past three years, 18-19 percent of Bangladesh’s total garment exports have been going to the United States.
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