Bypassing the traditional air shipment routes through India or Bangladesh, garment exporters have found the Maldives to be a cheaper as well as faster route.
Exporters say the traditional air shipment routes through Dhaka, Kolkata, Colombo or Singapore had either become too expensive or too slow
Bangladesh, the world’s second-largest garment producer, has opted to bypass India and ship its textiles to global markets through the Maldives, hurting the cargo revenue prospects of India’s airports and ports amid strained bilateral ties, reports Mint.
Bangladesh’s overall exports fell 4.34 percent year-on-year in FY24 due to lower shipments of ready made garments (RMG), reflecting sluggishness in industrial activities and the economy.
International clothing retailers and brands yesterday expressed concern about the timely shipment of goods following the latest spell of violence stemming from the quota reform movement, imposition of curfew and five-day internet blackout, which crippled economic activities.
They gave assurance of not seeking any discount or air shipment or cancelling work orders
Local apparel exporters are in a frantic race to recover the losses they incurred during the latest spell of violence centring the quota reform movement and nationwide curfew, with international retailers and brands pressuring them to ensure timely delivery of goods.
$21.64 billion worth of apparels were shipped to the European Union in the Jul-May period this fiscal year
International market prices declined mainly because of a fall in demand from end consumers suffering from high inflationary pressure due to the severe fallouts of Covid-19 and Russia-Ukraine war.
Bypassing the traditional air shipment routes through India or Bangladesh, garment exporters have found the Maldives to be a cheaper as well as faster route.
Exporters say the traditional air shipment routes through Dhaka, Kolkata, Colombo or Singapore had either become too expensive or too slow
Bangladesh, the world’s second-largest garment producer, has opted to bypass India and ship its textiles to global markets through the Maldives, hurting the cargo revenue prospects of India’s airports and ports amid strained bilateral ties, reports Mint.
Bangladesh’s overall exports fell 4.34 percent year-on-year in FY24 due to lower shipments of ready made garments (RMG), reflecting sluggishness in industrial activities and the economy.
International clothing retailers and brands yesterday expressed concern about the timely shipment of goods following the latest spell of violence stemming from the quota reform movement, imposition of curfew and five-day internet blackout, which crippled economic activities.
They gave assurance of not seeking any discount or air shipment or cancelling work orders
Local apparel exporters are in a frantic race to recover the losses they incurred during the latest spell of violence centring the quota reform movement and nationwide curfew, with international retailers and brands pressuring them to ensure timely delivery of goods.
$21.64 billion worth of apparels were shipped to the European Union in the Jul-May period this fiscal year
International market prices declined mainly because of a fall in demand from end consumers suffering from high inflationary pressure due to the severe fallouts of Covid-19 and Russia-Ukraine war.
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