Senior Staff Reporter of The Daily Star.
The 2,270 square feet store on Banani Road 11 opened on April 1, aiming to draw the rising middle-income population with an assortment of imported denim jeans, t-shirts, polo shirts, and formal and casual woven shirts for men and women.
Bangladeshi apparel exporters are facing one of the highest tariffs at 15.62 percent in the US, which imported more than $116 billion worth of garment items last year. Bangladesh's share stands at 9.3 percent.
The American Apparel & Footwear Association (AAFA) has expressed support for revival of the Generalised System of Preferences (GSP) to reduce costs faced by US citizens.
Buyers are already asking suppliers to execute orders as soon as possible because the time to transport goods has been extended by an additional 15 days following the outbreak of the Red Sea crisis in October.
Garment export to the United States, Bangladesh’s single largest market, is showing signs of a rebound on the back of a revival of the world’s largest economy, consumers opening up their wallets, and falling inflation.
Garment exports to the US declined 19.24% to $1.18 billion in January and February
Overall exports posted a 4.39 percent growth to $43.55 billion in the July-March period of the current financial year.
The Biden administration identified bribery, corruption, customs, anti-competitive procurement system and violation of intellectual property rights as major trade and investment barriers in Bangladesh.
The 2,270 square feet store on Banani Road 11 opened on April 1, aiming to draw the rising middle-income population with an assortment of imported denim jeans, t-shirts, polo shirts, and formal and casual woven shirts for men and women.
Bangladeshi apparel exporters are facing one of the highest tariffs at 15.62 percent in the US, which imported more than $116 billion worth of garment items last year. Bangladesh's share stands at 9.3 percent.
The American Apparel & Footwear Association (AAFA) has expressed support for revival of the Generalised System of Preferences (GSP) to reduce costs faced by US citizens.
Buyers are already asking suppliers to execute orders as soon as possible because the time to transport goods has been extended by an additional 15 days following the outbreak of the Red Sea crisis in October.
Garment export to the United States, Bangladesh’s single largest market, is showing signs of a rebound on the back of a revival of the world’s largest economy, consumers opening up their wallets, and falling inflation.
Garment exports to the US declined 19.24% to $1.18 billion in January and February
Overall exports posted a 4.39 percent growth to $43.55 billion in the July-March period of the current financial year.
The Biden administration identified bribery, corruption, customs, anti-competitive procurement system and violation of intellectual property rights as major trade and investment barriers in Bangladesh.
Despite garment exporters transforming their factories, international buyers are not paying a premium for the products they source from the eco-friendly factories
The midday sun blazes down on SM Sourcing, the world’s highest-rated green garment factory in Gazipur’s Konabari. About 60 workers on one of the factory floors are busy making export-quality frocks as they hurriedly finish their work ahead of lunch. Despite the summer heat outside, only a few ceiling fans are switched on and the factory floor is quite cool.