Sandy Will Affect Bangladesh'S Clothing Trade With The United States.

A blow to the US economic center, New York, could have an adverse effect on Bangladesh's export behavior, as some important purchasing companies and fashion retailers were harbored by Hurricane Sandy in New York, and local banks and business organizations expressed concern.

Settlement payments with the US may be interrupted because most banks in New York are still closed, or their disaster recovery centres are facing power shortages after hurricane damage.

However, the banking sector in the United States is not in a general mess, because most commercial banks have strong DCRs (distributed version control system), which are located outside New York. DCRs

But after the hurricane, DCRs in some US banks is currently facing a shortage of electricity.

As a result, the banks and Bangladeshi traders are going through a lot of pain in the smooth recovery of their business.

Exporters in Bangladesh, in particular

Exporters have expressed their delay in the possible payment and settlement of recent new export orders and New York related business units.

"Most of our exports are concentrated in New York," said Farooq Hassan, vice president of Bangladesh garment manufacturers and Exporters Association (BGMEA).

Obviously, this will have an adverse effect on our export department.

We are concerned about this because natural disasters have destroyed our potential in the United States.

One of them. "

Hassan said, first of all, Bangladesh's clothing exporters are worried about whether they can get new orders from traders in New York, because many of the fashion ends are badly damaged by Hurricane Sandy.

Second, some prestigious companies may face huge losses as they are also affected by Hurricane Sandy.

Their recovery takes time.

Some Bangladesh exporters may lose important purchasers from New York.

Third, Bangladesh.

Traders may face abnormal stock in a specific time in their factories, because some retailers in New York may cancel or postpone export orders.