Bangladesh, the world’s second largest garment producer after China, is likely to face new challenges from Myanmar and Ethiopia which entered the low-wage garment market last year drawing growing number of export orders. RMG export (more than $24 billion) earnings comprise 18 per cent of the Bangladesh’s GDP and 80 per cent of its total exports. RMG export from the country rose to $10.46 billion in the July-November period, compared to $9.69 billion in the same period last year. Another vital rival of the Bangladesh’s apparel export, Vietnam is also expected to get additional benefit from lower production costs under the newly-agreed-upon 12-country Trans-Pacific Partnership. Despite violent attacks by homegrown extremist groups and the Islamic State killed four atheist bloggers and two foreign aid workers in Bangladesh in the last six months RMG exports continued to rise. After Cesare Tavella, an Italian aid worker, was shot and killed in downtown Dhaka while out for a jog in September, foreign buyers have started to pull their expat staff and are requiring factory owners to provide armed security guards for buying visits. However the dust of terror have began to settle down and the leaders of Bangladesh Garment Manufacturers and Exporters Association hoped that they will be able to shrugged off all challenges as the situation have become normal after law enforcers busted terror gangs over the last few weeks. Meanwhile more than 80 per cent of some 7,000 export-oriented factories have inspected and found with upgraded safety facilities.
