The 16th edition of Bangladesh Denim Expo will once again open its doors in the international Convention City, Bashundhara (ICCB) in Dhaka on 6 and 7 May.
“Reimagine” is the theme of the 16th edition. “Reimagine” encapsules the Expo’s commitment to re-envisioning the future of the denim world and reshaping the landscape of denim through relentless innovation and seamless integration of digitalisation, reads a press release.
“We have chosen “Reimagine” as the Theme of Bangladesh Denim Expo because it is about more than just transforming denim; it’s about redefining the very essence of the denim trend. We are breaking free from conventional norms and exploring uncharted territories to create a denim experience that is both visionary and transformative. From sustainable practices to cutting-edge design techniques, we are redefining what denim means in the modern era,” said Mostafiz Uddin, founder and CEO of Bangladesh Apparel Exchange (BAE)
Over 60 exhibitors from 11 countries such as Bangladesh, India, China, Pakistan, Turkey, Italy, France, Spain, Switzerland, Vietnam, Japan etc are set to attend the event.
Participant categories includes Fabric Mills Denim and Non-Denim, Garment Manufacturer, Washing Laundry, Accessories and Trims, Chemicals, Machineries or Technology, & Logistic etc.
And the participants are Archroma Management LLC, Argon Denims Ltd, ARM Kimya, Artistic Milliners (PVT) Ltd, Asutex, Black Peony Textile Co., Ltd, Bluesign Technologies AG, Care Applications, SLU, Changzhou Deyi Printing & Dyeing Co.,Ltd, Changzhou Taosheng Textile Co.,Ltd, Changzhou Tehome Textile Co., Ltd., Cherry Button Ltd, Clearity – Kimya Tekstil Pazarlama Sanayi Dış Ticaret Ltd Sti., CMA CGM, Denim Solutions Ltd, Double Wins Denim Co., Ltd., DysinGroup, Experience Group Ltd, Foshan Ailiqun Textile Co., Ltd, Foshan Foison textile Co., Ltd, Foshan Gava Textile Co., Ltd, Foshan GKL Textile Co., Ltd, Foshan Hotline Textile Co., Ltd. Foshan M-JIE Textile Co., Ltd, Foshan Nanhai Deyao Textile Co.,Ltd, Foshan Nanhai Hongxinda Textile Co., Ltd, Foshan Yutai Textile Co.,Ltd, Freedom Denim, Guangdong Dasen Import & Export Co., Ltd, Guangdong Shinhuson(Huisheng)Textile Co., Ltd, Guangzhou Fenggu Textile Co., Ltd, Guangzhou H&H Textile Co.,Ltd., Guangzhou HongTaiImp&Exp Trade Co., Ltd., Guangzhou Huajian Textile Industrial Co., Ltd, Jiangyin Hengliang Textile Co., Ltd, Kaan EndustriMuhendislik San. Ve Tic. Ltd. Sti, KAISER, Liberty Mills Limited, Lion Fabrics Private Limited, Lucky Textiles Group Co., Ltd., M/s LNJ Denim, McDry Desiccant Limited, Metod Makine San. Ve Tic. Ltd. Sti., Nearchimica SPA, Officina +39 Srl, Ozondenim Tekstil Ve Tekstil Yik. Paz, Dan. San. Tic. Ihr. Ltd. Sti., Raymond UCO Denim Pvt Ltd, Respa Kimya Boya San. Ve Tic. Ltd. Sti, RNT (BD) Ltd, Soko Chimica S.R.L., Square Denims Ltd, Tex Fasteners, The Flax Company SAS, Vav Teknoloji Bilisim San. Ve Tic. A.S., Vita Textile Co., Ltd, XDD Textile Company Ltd, YKK Bangladesh Pte Ltd., Zhejiang Jinsuo Textiles Co. Ltd, Zhejiang Weixing Industrial Development Co., Ltd, and Zhejiang Xinlan Textile Co., Ltd
An inauguration programme, a series of panel discussions, trend seminar & a trend zone planned in for a two-day event. Worlds renown speakers will share their insights in the discussions. Seminar topics will be focused on the theme “Reimagine”.
A unique innovative and upcoming trends product will be showcased in the trend zone. Visitors can get opportunity to lookup & gain knowledge on future denim trends in the trend zone.
Join us as we embark on a journey to Reimagine denim.
Pohela Boishakh, or Bengali New Year, is the most significant cultural festival celebrated with great enthusiasm and vibrant mood across Bangladesh. The festival is called ‘Noboborsho’ or ‘Borsho Boron Utshab’. It marks the first day of the Bengali first month, ‘Boishakh’ of the Bengali Solar Calendar. In Bangladesh, this festival is celebrated on 14 April which is a national holiday.
As per the folklore, the festival started during the reign of the great Mughal Ruler, Emperor Akbar (1556-1609). At that time, the economy of the country highly depended on agriculture. Moreover, the agricultural taxes were collected based on Arabic or Hijri year. Since the Hijri calendar was then lunar-based, it naturally did not match the agrarian solar year. It would certainly create a serious problem then. Because when it was time to collect taxes, the peasants would face extreme difficulties in paying the taxes out of season. Realizing this, Emperor Akbar changed the traditional tax collection system and formulated a new calendar so that taxpayers could pay their taxes smoothly in time. Indeed, it was a great initiative that Emperor Akbar took for the taxpayers then. Thus, Emperor Akbar introduced a new form of celebrating the Bengali New Year.
Pohela Boishakh is celebrated with a great deal of passion and joy all throughout Bangladesh as well as among Bengali populations all over the world. It is a celebration that hails the approach of spring. There is a significant deal of cultural importance associated with this important occasion, which reflects a sense of togetherness, cultural history, and regeneration. The attire that is worn at this event is an essential component of the celebrations, as it demonstrates the breadth of traditions and the variety of individual and collective identities for those who participate. Clothing that is colourful and finely crafted is worn by children, men, and women alike. This clothing reflects the variety of cultures and unique identities that exist. Women wear spectacular sarees, which are often made of luxurious materials and decorated with exquisite needlework or artistic motifs to symbolize the splendour and vigor of the season.
These sarees are worn by women. Pyjamas or dhotis are typically worn with the traditional Panjabi, which is a long blouse that is structured similarly to a tunic and is worn by men. In addition to the enormous variety of colours and designs that they are available in, some of them even have exquisite needlework or traditional motifs. Young people take part in the celebrations by donning their own unique adaptations of these traditional garments, which perfectly embody the elegance and joy of the occasion on Pohela Boishakh, the saree, which is the traditional garment worn by Bangladeshi ladies, is a symbol of grace and elegance. The production of sarees commonly involves the use of exquisite materials such as silk, cotton, or jamdani, all of which are known for their proficient weaving. These textiles are available in a broad variety of colours; nevertheless, for this joyful occasion, vibrant hues such as red, yellow, and white are particularly well-liked. The decorations of the sarees, which include floral motifs, paisleys, and traditional geometric designs, contribute to the further enhancement of the garments’ aesthetic appeal.
Putting the finishing touches on the traditional costume requires the use of a huge scarf or shawl known as an ornate. When it is placed over the head or shoulder, it lends an air of sophistication to the ensemble. When it comes to ornaments, there are a wide variety of options available; they can be plain and solid in colour, or they can be embellished with exquisite designs or skilled stitching. In addition to creating a fashion statement, they are a reminder of the need of humility and respect. The Pohela Boishakh ensemble would be lacking in its entirety if it were not for the jewellery, which is available in a wide range of materials and accessories. Jewellery made of gold or silver is widely worn by women. This includes rings, necklaces, bracelets, earrings, and other items of jewellery. Traditional to contemporary designs are shown in these patterns, which are based on motifs that are derived from history, culture, and the environment.
Panjabi, which are recognized by their knee-length cut and buttoned front, are the usual garments that Bangladeshi men adorn themselves with. Since it exudes beauty and elegance, this ensemble is completely suitable for the joyful events. There are a wide variety of Panjabis, ranging from those that are simple and unadorned to those that have intricately embroidered patterns. It is common for them to be made of comfortable fabrics such as silk or cotton, which ensures that the user will be comfortable in addition to looking fashionable. When it comes to colours, there is certainly a wide range of alternatives accessible. Bright colours such as red, yellow, and white are particularly popular during the Indian festival of Pohela Boishakh. This is because these hues are associated with joy, prosperity, and new beginnings. Intricate patterns and motifs, such as paisleys, geometric forms, and floral themes, typically look great when paired with these colours.
The significance of the clothing worn at Pohela Boishakh lies in the fact that it is more than just a representation of the fabric and design; it also demonstrates the cherished cultural past of Bangladesh. Traditional attire, such as the Sari for women and the Panjabi for men, is more than simply garments; it reflects the cultural significance, artistic expression, and historical significance that have been passed down through the years. The fabrics, colours, and patterns of these garments—such as the visually arresting red and white tones and the intricate floral designs are vital components of the rich cultural history that Bangladesh has.
On Pohela Boishakh, people show respect for their past by wearing in traditional garb. In doing so, they save and commemorate these treasured cultural relics. Additionally, the garments that are worn on this wonderful day symbolize the harmony and festivity that exists among everyone. When friends and family join to celebrate the new year, the vivid and traditional garments that everyone is wearing provide a striking display of unity that is sure to attract people’s attention.In addition to serving as a visual representation of similar practices and goals, the bright apparel also helps to symbolize the joy and celebration that is associated with the occasion. It serves as a reminder of the fundamental relationships that bind individuals from diverse origins together, which in turn helps to build a feeling of community and celebration
Pohela Boishakh’s clothing is significant not only for its aesthetic value but also for its role in the development of a robust feeling of identity and belonging. This not only encourages a sense of pride in one’s heritage but also makes it possible for individuals to freely express their cultural roots. In this approach, clothing becomes an effective technique for individuals to embrace and celebrate who they are within the context of the community. This, in turn, encourages a sense of togetherness and shared cultural pride on this momentous day.
Pohela Boishakh fashion has taken on a trendy twist, blending traditional elements with modern flair. Here’s what’s trending in clothing for the occasion:
Bold Saree Styles:
One of the top picks for Boishakh includes cotton sarees adorned with vibrant floral prints. Also, modern saree draping techniques, like the dhoti saree or belt saree, bring a contemporary vibe to this classic attire.
Printed Panjabis:
Men’s panjabis are getting a makeover with embroidery and eye-catching embellishments, making them a standout choice for the festivities.
Fusion Fashion:
Mixing Bengali traditional wear with Western pieces, such as pairing a saree with a crop top or a panjabi with tailored trousers, is all the rage for a unique and trendy look.
Vibrant Colors and Prints:
Bold hues and lively prints are making a comeback, adding a splash of excitement to Pohela Boishakh’s outfits and capturing the festive spirit.
Sustainable Choices:
Many are choosing eco-friendly options like handloom or taant sarees and organic cotton panjabis, showing a growing appreciation for sustainable fashion while celebrating in style. Also, many choose salwar kameez, tunics, frocks, ghagra cholis, and T-shirts, casual shirts for their stylish and comfortable attire during the Boishakh festivities.
These fashion trends reflect the evolving tastes of Pohela Boishakh attire, blending tradition with a modern twist to create chic and culturally relevant outfits for today’s celebrants.
The act of dressing in a traditional manner is more than simply a question of personal preference; it is a symbol of our ancestry and identity. Keeping in touch with our roots, paying respect to our ancestors, and imparting knowledge to the next generation about our origins are all accomplished via the use of this approach. By adhering to traditional clothing, we can contribute to the preservation of our traditions and prevent them from being lost or forgotten in the face of modernization. The act of donning these garments is not only a demonstration of pride in one’s cultural variety but also an homage to the marvels of how people from different cultures can communicate with one another. An essential reason why it is crucial to wear traditional clothing with pride is that it serves as a representation of the vibrant mosaic of cultures that make up the variety of our globe as well as a rich tapestry of human history.
A joint report by Uztextileprom and The Apparel Digest
Uzbekistan, a country with 447,400 square kilometers area and around 37 million population, is located in the centre of Central Asia. With a rich culture and heritage, the country also renowned for its trading history since it was one of the most important business hubs of the great silk route which connected China with Europe and the Middle East. The region also has a long track record of producing world class cotton.
President Shavkat Mirziyoyev, the visionary leader of Uzbekistan after assuming power in December 14, 2016 has initiated various transformation for the growth of country’s economy. He emphasizes the importance of value addition and thus stopped raw cotton export from Uzbekistan. President Mirziyoyev signed a decree to extend reforms in the textile industry to fully reprocess raw cotton domestically and increase the export potential of the country. His bold decision effectively has transformed Uzbek economy – converting it from a cotton exporter to a textile and garment producing country with great export potentials.
For many years, Uzbekistan Textile Industry had suffered for the embargo on its products due to alleged forced labor. Many international brands have stopped using Uzbek cotton. Thanks to a successful dialogue between Uzbek government and the International Labor Organization as well as other stakeholders, the issue has been resolved and Uzbekistan has started to get its benefits. Foreign Direct Investment (FDI) has been growing in the country due to policy reforms and government initiatives.
The Uzbekistan Textile and Garment Industry Association (Uztextileprom: https://uzts.uz/en/) is the country’s apex government body that is entrusted to work closely with Uzbek enterprises and foreign parties for the growth and development of textile and garment business. The mission and goals revolve around elevating Uzbekistan’s textile sector by bridging governmental support with private enterprise, while advancing the industry’s presence on the international stage. Uztextileprom Association serves as a steadfast partner to the private sector, acting as a bridge between the Government and textile companies. The Association actively advocates for industry interests, promotes the sector globally, and fortifies its international market standing. With a history steeped in cotton cultivation dating back to the Silk Road era, Uztextileprom is committed to transform Uzbekistan in to a prominent textile and apparel resource hub of Central Asia.
The International Textile Manufacturers Federation (ITMF:www.itmf.org), established in 1904, is one of the oldest international body that represents textile industries of the world. ITMF has been dedicated to keep its world-wide members constantly informed through surveys, studies and publications, participating in the evolution of the industry’s value chain and through the organization of annual conferences as well as publishing considered opinions on future trends and international developments. Through ITMF the textile industries cooperate at the international level with organizations representing other sectors allied to their industry. ITMF represents the textile industry towards governments, intergovernmental as well as non-governmental organizations by actively participating in discussions about the evolution of the industry.
The International Apparel Federation (IAF: www.iafnet.com) is the world’s leading federation for apparel manufacturers, brands, their associations, and the supporting industry. IAF’s membership includes apparel associations and companies from more than 40 countries, a membership that directly and indirectly represents over a hundred thousand companies and over 20 million employees. IAF brings its members together to jointly create stronger, smarter and more sustainable supply chains, it provides its members with valuable information and guidance and it represents its members on several international platforms working incessantly on more industry standardisation and harmonisation, industry collaboration and inclusiveness of solutions.
From September 8th-10, 2024 both ITMF and IAF for the first time in their histories are going to organize their annual convention jointly. This year’s venue is the ancient Silk Road city of Samarkand, Uzbekistan. Joint convention of ITMF and IAF joint convention in Uzbekistan is poised to expand the view of the country’s booming textile and garment industry.
The theme of the convention is “Innovation, Cooperation & Regulation – Drivers of the Textile & Apparel Industry”. At the Samarkand convention, IAF and ITMF will bring together the entire supply chain, including raw material suppliers, spinners, weavers, machine suppliers, garment and home textile manufacturers, brands, retailers, solution providers and educators. Industry experts and leaders will discuss the relevance of innovation, cooperation, and regulation for our industry and how they will influence and shape the future.
The convention plans to assemble stakeholders from across the supply chain, including raw material suppliers, spinners, weavers, machine suppliers, garment and home textile manufacturers, brands, retailers, solution providers, and educators.
Recognizing that manufacturers play a key role in shaping the future of fashion, the ITMF, IAF joint convention aims to foster dialogue and cooperation among stakeholders. Key topics range from environmental sustainability to digital transformation, and supply chain transparency.
ITMF and IAF conferences in Samarkand will also introduce the Uzbek textile and garment industry to the rest of the world, providing a good view of this industry, both during the conference program and during the planned factory visits.
IAF and ITMF are organizing their annual conventions together out of a strong conviction that the apparel industry and textile industry need to jointly discuss collective solutions for our common industry challenges. Textile and garment manufacturers together hold keys to the solutions that the entire fashion industry relies upon. Reduction of the environmental footprint of textile and apparel products happens at the level of fiber producers, spinners, weavers, knitters, finishers, printers, and sewing operations. Information needed to fill a Digital Product Passport or to run a 3D digital design and development operation requires an effective flow of information between all segments of the textile and apparel value chain.
Recently Chairman of Uztextileprom Mr. Mirmukhsin Sultanov had a meeting with ITMF’s Director General Dr. Christian Schindler where both have discussed elaborately on the preparations of September 8-10 conference. They have expressed their firm conviction on the success of the global meeting of textile entrepreneurs, professionals and other stakeholders.
Very recently at the Tashkent office of Uztextileprome, Chairman Sultanov met Mr Mehdi Mahbub, Founder and Editor of The Apparel Digest. Both are convinced that not only Uzbekistan Textile and Garment sector but also global companies, brands and customers would be benefitted immensely from Samarkand Conference of ITMF and IAF. It is expected that a new era of Uzbek Textile and Garment Industry would start its journey soon.
The export sector of Bangladesh continues to be robust, as evidenced by the fact that the country’s goods shipments surpassed US$ 5 billion for the fourth consecutive month in March 2024. As a result of the ongoing crisis in the foreign currency market, this achievement comes at a time when the economy is experiencing a terrible moment.
Despite regional and worldwide challenges, such as the COVID-19 pandemic, the war between Russia and Ukraine, and the tensions in the Middle East, the nation’s exports have continued to be robust. It is noteworthy that there has been a steady increase in the number of shipments of apparel, which constitute a sizeable share of the country’s revenues from exports. Please allow me to provide a more in-depth analysis of Bangladesh’s export record, as well as the factors that are contributing to this consistent growth.
In March, Bangladesh’s merchandise exports hit $5.10 billion, as reported by the Export Promotion Bureau (EPB). This is a 9.88 percent increase over the previous year and marks the fourth consecutive month in which Bangladesh’s exports have remained over the barrier of $5 billion. The milestone of $5 billion was reached in January of the previous year, which marked the beginning of this growing trend.
This tendency culminated in the statistics from December, which was $5.30 billion, January, which was $5.72 billion, and February, which was $5.18 billion. The most important factor that has contributed to the recent surge in exports is the steady recovery of garment shipments, which currently account for more than 85 percent of the country’s total exports. Despite the challenges that have arisen because of global events, such as the conflict between Russia and Ukraine and the ongoing consequences of the pandemic, Bangladesh’s export sector continues to be an essential component of the country’s economy.
Even though this hopeful attitude is held, there are still challenges to experience. Despite this, exporters are confronted with challenges such as the restricted supply of gas and energy utilized by the industrial sector, as well as the increasing loan rates charged by banks. The sector has also been badly influenced by concerns over the results of the general election and higher production costs because of an increase in the minimum wage for garment workers. Both factors have contributed to the industry’s negative effect.
Despite this, Faruque Hassan, who served as the president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), observed that international buyers had been pouring money into Bangladesh with massive purchases, which is a response to the fact that Western shops’ inventory of apparel is running out. It is also becoming a significant supplier of garments with added value, increasing Bangladesh’s position in the worldwide market. Bangladesh is becoming a major provider of clothes.
Besides the garment industry, there are other businesses that are also making success. A discernible rise in the export of agricultural goods, plastic items, cotton waste, artificial filaments, and specialized textiles has been observed in recent years. On the other hand, several different businesses had financial difficulties, such as a decline in sales of live and frozen fish, leather goods, jute products, and home textiles alike. The overall rise of exports for the current fiscal year, which runs from July to March, is 4.39 percent, which is equivalent to $43.55 billion. This is despite the fluctuations that they have experienced. However, there are still challenges to overcome. Considering weaker growth expectations in the United States and the European Union, two significant export markets, the World Bank forecasts that Bangladesh’s exports will increase at a moderate rate in the next years. As Bangladesh works through these problems, stakeholders want to see customs processes simplified and facilities like bonded warehouses enhanced. This is done to better support the performance of the export industry.
Bangladesh’s export sector is resilient, as seen by its constant performance over the barrier of $5 billion, even though it faces challenges on both the national and international levels. The revitalization and diversification of the garment industry in Bangladesh has resulted in the country’s emergence as a prominent participant in the international apparel market. This has been the driving force behind Bangladesh’s economic expansion. Even though there are persistent challenges, such as power outages and rising loan rates, stakeholders have a favourable outlook on the future of the sector currently. It will be necessary to implement programs and provide continuing help to exporters to maintain this positive momentum. This is because the nation is working hard to navigate shifting global dynamics and to increase export development.
The government today honoured 29 companies from 12 sectors with the “Green Factory Award-2023” for their role in enhancing productivity through the use of skilled workforce and eco-friendly technology in safe environments.
The sectors are woven, knitwear, leather (finished goods and tannery), tea, cement, pharmaceuticals, tiles and ceramic, electric and electronics goods manufacturing, plastic, food processing and textile industries.
The awards were handed over to the representatives of the factories at a programme to observe the “National Occupational Health and Safety Day 2024”.
Shirin Sharmin Chaudhury, speaker of the parliament, handed over Tk 1 lakh, a medal, a memento and a certificate to each of the winners.
The Department of Inspection for Factories and Establishments under the labour ministry organised the event at Bangabandhu International Conference Centre in the capital.
The International Labour Organisation (ILO) observes the “World Day for Safety and Health at Work” on April 28 every year to promote the prevention of occupational accidents and diseases globally.
Following the ILO’s guideline, Bangladesh has also been observing the day by awarding factories in different sectors in recognition of their initiatives for protecting workers’ health and environmental protection.
Currently, Bangladesh has the highest number of green garment factories as per the certifications given by the United States Green Building Council (USGBC), according to data from the Bangladesh Garment Manufacturers and Exporters Association.
Of Bangladesh’s 215 green factories, 80 are platinum rated, 120 gold, 10 silver and four are green rated as per USGBC’s Leadership in Energy and Environmental Design (LEED) certification.
Moreover, 55 of the world’s 100 top-rated green buildings are located in Bangladesh.
Every aspect of economics and the modular calculation of a sovereign economy revolves on the issue of inflation. Inflation is a crucial indicator that demonstrates the changes that occur in real time within the purchasing power of consumers. The topic of this article, on the other hand, is the more general influence on purchasing parity, with a special emphasis on the selective industry situations in Bangladesh. As prices continue to rise, industries are accelerating toward another economic downturn. As a result, foreign buyers are switching to alternative options. This is because the relative affordability of importing goods from Bangladesh has decreased day by day (International Monetary Fund. Asia and Pacific Dept 3–5).
The RMG sector was previously struggling to recover post-pandemic as they had to encounter a cancellation of orders worth $3 billion from almost every brand, except for H&M (Uddin, “RMG Orders Tumble 30% Amid Record Global Inflation”). Apart from the fall in demand, freight costs rose by almost four times, and the price of raw materials spiked by 15%–20%. However, being the most prominent industry within the economy, RMG soon rebounded as they registered a record high volume of exports worth $42.61 billion and kept the inflationary pressures under control. However, our focus is within the economy, and unlike RMG, there are other industries suffering from economic changes such as the rise in inflation, and we will be analysing those industries in depth (Uddin, “RMG Orders Tumble 30% Amid Record Global Inflation”).
To begin with, we will be looking at the textile industry. The global economic downturn has led many major textile franchises to shut down and, in return, decreased the export rate in Bangladesh. It is the third tier according to consumer preference, and the rise in exports is uncertain with the current situation. EU market closures have added fuel to the fire, along with the gas price hike, as they increased the production cost from 5% to 8%, depending on the capacity of the firm (Uddin, “RMG Orders Tumble 30% Amid Record Global Inflation”). Industry professionals believe that due to the global price spike in the energy sector, Bangladesh will lose significant competitiveness in the market as there are other players, like Pakistan, thriving in the textile sector.
Furthermore, jute products once witnessed a boom within the economy but have seen a 21% decline in earnings in the current fiscal year for Bangladesh from the first three quarters last year. Top industry professionals believe that the high price of raw materials has led to a drop in income.They believe stockists drove the price of raw jute, which was previously ranging from BDT 2000 to BDT 2500 per maund (US $18.18 to $22.73). As a result, Turkey, the largest importer of jute from Bangladesh, switched to another renewable alternative as they have started using recycled clothing yarn instead of jute yarn to produce the lower parts of a carpet Uddin (“Ukraine War, High Inflation Squeeze Bangladesh’s non-RMG Exports”).
Lastly, the leather industry has been in constant fluctuations, seeing ups and downs, but the export section of leather goods has observed a 20% fall with footwear, specifically, falling by 1% only. The President of the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh has confirmed that the rising price and the Ukraine war situation were the dominant factors in the drop recorded in this sector. Similarly, the US market is no longer the highest importer of leather as sales have dropped due to the high inflation rate and we are currently clearing out the remaining inventories Uddin (“Ukraine War, High Inflation Squeeze Bangladesh’s non-RMG Exports”). With the rising uncertainties, industrialists feel that alternative countries like Australia and Canada can be the next best export destinations for Bangladesh Uddin (“Ukraine War, High Inflation Squeeze Bangladesh’s non-RMG Exports”).
Given the high inflationary pressures brought on by the war between Russia and Ukraine, Bangladesh had a genuine period of stable inflation, but the streak is now over (International Monetary Fund. Asia and Pacific Dept 3–5). Controlling inflation and enhancing macroeconomic stability require a balancing act between managing inflation and economic growth. The International Monetary Fund (IMF) has performed a semi-structural quarterly projection model to deduce four drivers of the rising inflation in Bangladesh (International Monetary Fund. Asia and Pacific Dept 3–5). The drivers are as follows:
Bangladesh’s inflation situation was triggered by the cost-push factors.
Passed-through exchange rate depreciation led to a constant surge in prices.
Inflation got entrenched due to the second-round effect.
Inflation expectations have remained constant.
The IMF has also proposed some active scenarios and policies that Bangladesh Bank can adopt to persevere through this situation. The scenarios and policies are given below:
Scenario 1: The “active policy” scenario assumes that Bangladesh Bank actively determines its policy rate in every quarter of the forecast horizon to minimize expected inflation deviation from the target, keep demand pressures checked, and ensure that the call money rate closely aligns with the policy rate.
Scenario 2: The “hawkish policy” scenario that expects Bangladesh Bank to bring inflation down to the target range by the end of FY24.
Scenario 3: The ‘’dovish policy’’ scenario expects Bangladesh Bank to continue with their current monetary policy until the end of FY24.
Glossary:
Maund: “Maund” refers to a traditional unit of weight used in Asia and Africa, while “mound” refers to a pile of earth or stones. The word “maund” has its origins in the Arabic word “man”, which means a weight of 100 pounds.
Call money rate: The call money rate is the benchmark interest rate that banks charge brokers who are borrowing the money to fund margin loans.
Policy rate: Policy rates are a powerful tool to control the inflation level and economic activity within a country or geographical area.
Purchasing power: Purchasing power is the amount of goods or services that a unit of currency can buy at a given point in time.
Economic Downturn: An economic downturn, or a downturn, occurs when the value of stocks, property, and commodities fall, productivity either grows more slowly or declines, and GDP (gross domestic product) shrinks, stands still, or expands more slowly.
Today marks the eleven-year anniversary of the Rana Plaza building collapse, a catastrophic event in Bangladesh’s garment industry history that claimed the lives of approximately 1,134 workers and left 2,500 others injured in 2013.
Regarded as one of the largest industrial disasters in the global clothing sector, the quest for justice remains elusive even after over a decade.
Every year, as the day returns, families of the deceased workers and injured survivors, along with labour leaders and activists, gather at the site in Savar to honour the victims and renew their call for justice.
This year was no exception.
This morning, floral tributes were laid at the makeshift memorial while labour organisations held vigils and meetings to emphasise their longstanding appeals.
Photo: Noman Mahmud
Their demands encompass various measures, including identifying all responsible parties, ensuring maximum punishment for those culpable, including building owner Sohail Rana, revising compensation laws and providing financial support to affected families, providing lifetime income compensation, comprehensive long-term treatment and rehabilitation for the injured workers, building a permanent monument at the site, establishing an emergency fund to support all workers and designating 24 April as a national day of mourning and safety day, with the closure of all factories.
Rafiqul Islam Sujan, president of the Bangladesh Garment and Industrial Workers Federation, lamented the lack of progress, noting the plight of injured workers who have not received adequate compensation or proper rehabilitation.
Photo Mehedi Hasan
He said, “After eleven long years, our demands remain unaddressed. Many injured workers have passed away without receiving justice or proper compensation. It is disheartening that a permanent monument has yet to be erected at the site. We continue to stand here with the same demands, hoping for meaningful action,
Bulbuli Akhter, a worker injured in the Rana Plaza tragedy, lamented her ongoing plight, stating, “I am enduring an inhumane existence after being crippled by the collapse. Despite a mere token donation, I have yet to receive proper compensation or justice. None of our demands have been addressed.”
Photo Mehedi Hasan
Similarly, Hawa Begum, who was on the 8th floor during the incident along with her daughter and sister-in-law, shared her struggles, saying, “Though I survived, my life has been far from normal. My daughter and I continue to suffer from serious injuries, making everyday life unbearable. We are still awaiting rightful compensation.” Joining them were numerous other injured workers gathering at Rana Plaza, each echoing similar grievances.
Photo Mehedi Hasan
Every year, on this day, Abdul Mannan pays a visit to the site in Saval from Barishal to mourn his son Rafiqul, who perished while working on the 5th floor.
He said, “Rafiqul, my fourth child among seven, was laid to rest after being recovered 14 days post-collapse. Yet, justice still eludes us.”
On the occasion of the 11th anniversary of the Rana Plaza collapse, various labour organisations, including garment workers, pay tribute to the victims at Jurain Cemetery in the capital on Wednesday (24 April) and demanded maximum punishment for those responsible for the murder. Photo Mehedi Hasan
Families of the victims and rights groups alike perceive the tragedy as premeditated murder and demand severe punishment for the perpetrators.
Sarwar Hossain, General Secretary of the Garment Workers Union, asserted, “The Rana Plaza collapse was no accident but a calculated act of murder. It’s disheartening that justice remains elusive. We urge for maximum punishment for the guilty, echoing the collective demand of all.”
Longtime American mall retailer Express Inc, which imports readymade garment (RMG) products worth around $100 million a year from Bangladeshi manufacturers, has filed for Chapter 11 bankruptcy.
The brand intends to close more than 100 stores, reports Reuters.
The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware.
Eleven affiliated firms of the brand also filed their respective Chapter 11 petitions.
Express Inc also named Mark Still as its new CFO, effective immediately. The executive has served as interim CFO since November 2023.
As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its UpWest stores, starting Tuesday, it said, without specifying the locations.
The company operates about 530 Express retail and Express Factory Outlet stores in the United States and Puerto Rico and around 12 UpWest retail stores, according to its website.
Launched in 1980, Express has been battling with soft consumer demand due to slowing spending patterns and increased price sensitivity in discretionary categories.
The bankruptcy filing was expected earlier this year.
Credit monitoring firm Creditsafe said at the time that late payments have been a consistent problem at Express, an indication of ongoing liquidity problems report, sourcing journal.
According to industry insiders, about 12-14 top Bangladeshi RMG manufacturers have business with this iconic brand. Their annual import value is about $100 million.
They also said some of them have some outstanding payments from this brand.
Shovon Islam, managing director of Sparrow Group, one of the manufacturers that exports RMG goods to Express, said the brand informed us they are going to file chapter 11 for restructuring their business.
“I believe that Express is an iconic brand in the USA and they have a huge loyal customer base. After restructuring and some changes and new investments, Express will emerge again strongly. Given Bangladesh is a very strategic sourcing destination for Express, they will treat Bangladesh vendor’s pending payments and future orders in a favourable way” he hoped.
The American retailer said it has received a nonbinding letter of intent from a consortium led by brand management firm WHP Global. Other members of the consortium include mall landlords Simon Property Group and Brookfield Properties.
The offer is for the sale of a majority of the chain’s retail stores and operations. But given that it is a nonbinding offer, others could come in and kick the tyres.
Sources said Sycamore has already been snooping around and pondering a possible offer. Sycamore had its eye on Express back in June 2014, when word surfaced that it was interested in acquiring the retailer.
At the time Sycamore held a 9.9% interest in Express. The two were working on deal terms when the transaction collapsed in January 2025 due to certain financing issues.
However, WHP could be seen as having the upper hand since it has held a 7.4% investment stake in the company since January 2023. As part of that investment, WHP holds a 60% interest in a joint venture licensing agreement valued at $400 million, to which the brand management firm contributed $235 million.
Garment industry stakeholders are exploring alternative dispute resolution (ADR) for resolving labour disputes in the sector, avoiding the lengthy and costly nature of the traditional legal system.
A recent study by the Solidarity Center, conducted by Jagannath University Professor Mostafiz Ahmed, highlighted the potential of ADR for the RMG sector.
The research was presented at an event in Dhaka that brought together legal professionals, worker representatives, and garment industry leaders.
The traditional system for resolving labour disputes is slow and expensive, panellists said. As an alternative, experts are exploring ADR. ADR uses a neutral third party to help workers and employers negotiate a quicker, more affordable settlement.
However, regarding the formulation of ADR, the labour leaders and the sector concerned said that they emphasised fixing a specific time for dispute resolution to prevent the prolongation of judicial work.
MA Awal, district and session judge of Dhaka’s Labour Appellate Tribunal discuss the significance of ADR in expediting dispute resolution processes.
Ruhul Amin, president of the Bangladesh Federation of Workers Solidarity, stressed the need for continuous dialogue and engagement to address systemic issues and promote sustainable practices within the apparel sector. He urged stakeholders to prioritise the well-being of workers and uphold their rights as integral components of a thriving industry.
The discussion explored the specific types of ADR mechanisms that could be most beneficial for labour disputes in Bangladesh, as well as the potential challenges in implementing and utilising these alternative methods.
A distinguished panel, including legal professionals, worker representatives, and a representative from the Bangladesh Garment Manufacturers and Exporters Association, discussed the current challenges and potential solutions for resolving labour disputes.
Industry insiders shared their perspectives on the effectiveness of the traditional legal system and the potential benefits of implementing ADR mechanisms.
Bangladesh’s apparel exports to the European Union market surged by 8.5% month-on-month to around €1.3 billion in February this year – the highest in the last four months.
However, shipments to the 27-nation economic bloc remained 18.6% lower compared to the corresponding month a year ago, according to Eurostat.
Bangladesh has witnessed the most significant decline in apparel exports among its competitors in the EU countries during the first two months of 2024. This trend mirrors a similar decline observed in the United States market during the same period.
SM Mannan Kochi, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said apparel exports are facing a challenging time as most buyers are not paying proper prices.
He explained that exporters are losing competitiveness despite increased production costs caused by utility price and wage hikes.
He also expressed concern that the escalation between Iran and Israel may significantly affect exporters in the coming months.
Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, echoed the sentiments of the BGMEA president.
He mentioned that inquiries from western buyers had increased in recent months, but many manufacturers have been unable to entertain their orders as buyers are offering low prices.
Hatem also noted that buyers are now looking for shorter lead times, but Bangladesh’s shipment time has increased to 89-90 days from 50-60 days due to the gas crisis. Consequently, many western buyers are placing their orders in Vietnam and China instead, he said.
In January-February 2024, the South Asian nation experienced a significant decline in its apparel exports to the EU market, amounting to a decrease of 26.74%.
According to Eurostat, the statistical office of the European Union, Bangladesh’s exports totalled €2.48 billion during this period, down from €3.39 billion in the corresponding period of 2023.
Exporters highlighted that despite a surge in global demand for apparel, Bangladesh’s benefits were minimal due to prolonged lead times and escalating production costs.
Specifically, the country saw a decline in its knitwear exports to the EU in January-February 2024, amounting to €1.42 billion compared to €2 billion in the same period a year ago.
Similarly, the country’s woven garment exports to the 27-nation economic bloc during the first two months of 2024 decreased to €1.06 billion from €1.38 billion in the corresponding period of last year, according to Eurostat data.
Recent data from the US Department of Commerce’s Office of Textiles and Apparel indicates that Bangladesh has fallen behind its competitors in apparel exports to the American market during the January-February period of 2024.
According to OTEXA data, Bangladesh experienced a notable decline of 19.24% in its apparel exports to the US during the first two months of this year. This contrasts with China, which saw export growth of 0.48%, and Vietnam, which recorded an increase of 0.14% during the same period.
According to Eurostat, clothing imports by the EU from various countries witnessed a decrease of 15.31% to €12.53 billion in the first two months of 2024, down from €14.80 billion in the same period last year.
Specifically, apparel imports from China to the EU in the January-February period dropped by 13.12% to €3.33 billion, compared to €3.83 billion in the same period of 2023.
The EU’s apparel imports from Turkey decreased by 10.69% to €1.54 billion, down from €1.72 billion in the same period of the previous year.
