Recently, the new coronavirus pneumonia is raging around the world, causing serious impact on various industries around the world, especially the aviation industry, transportation industry, catering industry, automobile industry, entertainment industry, etc. Among them, many global airlines have Dozens of companies declared bankruptcy and closed down.
With the development of the epidemic, the garment industry is also encountering a serious crisis. The Bangladesh Garment Manufacturers and Exporters Association said today: There are currently up to 2.6 billion US dollars (about 18.4 billion yuan) in the country. Clothing orders were forced to be canceled, affecting 1.96 million employees.
The Bangladesh Garment Manufacturers and Exporters Association said today: Due to the epidemic, many countries have implemented blockade measures and a large number of stores have been forced to The closure has caused a large number of businesses to be unable to operate normally, which in turn has brought a serious crisis to Bangladesh’s garment manufacturing industry.
The Minister of Commerce of Bangladesh said: According to the latest statistics, clothing orders of up to 2.6 billion US dollars have been forced to be canceled, involving 966 clothing factories. , approximately 828 million pieces of clothing, affecting up to 1.96 million employees. As the epidemic further develops, this situation will continue to worsen.
Bangladesh is the second largest clothing exporter in the world, second only to China. Currently, there are more than 4,600 clothing manufacturing factories in Bangladesh, employing 4.1 million people. They mainly receive products from Europe, Regarding orders from the Americas, Australia and other regions, data shows that Bangladesh’s total exports from 2018 to 2019 were US$40.5 billion, of which clothing accounted for 84.21%, and more than 60% of the clothing was exported to EU countries.
The Minister of Commerce of Bangladesh said: We do not want any merchants to cancel any orders. They can choose to postpone the pickup and pay part of the deposit in advance, which can help clothing manufacturers to better survive and maintain the buyer’s good credit.
The EU has suspended the import of Myanmar-made garments
Due to the impact of the COVID-19 outbreak, some brands in the EU have decided to Plans to purchase ready-made clothing from Myanmar have been partially cancelled.
Du Kaikailuo said that at present, after the shortage of raw materials has been solved, brand owners have suspended the purchase of garments, which is another challenge for garment factories. Due to the suspension of garment imports, the garment industry, including garment factories and workers, may face difficulties.
U Min Soe, chairman of the Myanmar Garment Association, said that because Myanmar has received Generalized System of Preferences (GSP) treatment from the EU, 65% to 70% of Myanmar’s Clothing exports are all based on the EU market.
It is understood that the EU has provided GSP/EBA treatment to Myanmar since 2013. In 2018, the EU allowed 2.3 billion euros of goods imports from Myanmar. The EU said the preferential trade treatment allowed Myanmar to reduce tariffs worth 250 million euros.
It is reported that Myanmar mainly exports garments, shoes and rice to the EU. 80% of the garments produced in Myanmar are exported to the EU. Moreover, Myanmar’s largest export to the EU is garments, followed by rice. </p
