Bangladesh'S Clothing Exports Will Continue To Grow In The Next 10 Years.

Recently, HSBC released a trade forecast report that Bangladesh's textile and clothing export growth rate will rise from 2.8% in 2010 to 3.8% in 2020.

Bangladesh's clothing exports will continue to grow in the next 10 years.

Up to now, distance

A year and a half after the collapse of several garment factories in the town of Sarwar, capital of Dhaka, more than 1100 workers have been killed and factory safety measures have lagged behind, which has raised doubts about the country's production safety and industry development prospects. The factory safety problem has also had a negative impact on the development of its garment industry.

Bangladesh government recently said that in response to this situation, Bangladesh textile and garment factory has introduced new laws and regulations to strengthen the safety regulations and standards of garment factories, which will help strengthen Bangladesh cooperation with international buyers and promote the industry to expand production.

Since December 2013, the factory has raised the minimum wage of garment workers by 77%, which has increased the cost of business, but the industry expects that the Bangladesh garment industry will remain competitive in the global market.

Use fire and building standards to guide production.

Recently, Bangladesh workers' safety Union signed a cooperation agreement with the Bangladesh National Fire Association (NFPA), which will guide Bangladesh's garment factories to guide the daily production by adopting the best standards and the highest standards of building and fire safety data widely applied around the world.

The agreement will provide guidance and training information to members of Bangladesh workers' safety alliance and garment factories in Bangladesh, which will help protect the safety and health of workers in Bangladesh garment factories.

Important elements of this cooperation include: raising the National Fire Services Association

The standard and consciousness of the clothing and clothing department, and the effective guidance of the fire and electrical system safety operation project, will expand the training and education of garment manufacturers, and help them understand and prevent the dangers in the workplace by providing dangerous information alerts.

Ellen Tauscher, chairman of the alliance committee, said that representatives from the executive teams of each organization will develop an action plan to identify work procedures and clarify the roles and responsibilities of participants.

The workers safety alliance and the members of the National Fire Protection Association will meet at least once a year to share and communicate the progress made in the safety work of the garment factory.

He pointed out that "Bangladesh workers' safety alliance and Bangladesh National Fire Association will work together to ensure that our factory members can accept strict and standardized guidance to ensure the smooth progress of the garment factory."

Open and pparent factory safety inspection results

"Regular inspection of garment factories and pparent inspection results are essential for maintaining durable factory safety reform."

Mesbah Rabin, chairman of Bangladesh workers' safety Union (Mesbah Rabin), pointed out that Bangladesh, including the government, clothing industry, social organizations and even the world's famous clothing brands, should form a broader consensus than ever before. It should be committed to the higher standard inspection of the garment industry.

The Bangladesh workers safety alliance is composed of representatives of some North American retailers and manufacturers, aiming to create a better and safer working environment for garment workers in Bangladesh.

The alliance includes 26 famous retailers, such as Carter (Carter 's), The Children (s Place), good market (Costco Wholesale), Messi department store (Macy s), Taghit (Target),

(Wal-Mart Stores) and so on.

"In the first year, the alliance has made great progress in improving the safety and environmental problems of workers in Bangladesh garment factories," Mesbah Rabin said.

In July of this year, we completed 100% inspections of all 587 factories.

We recommend that all 14 plants be shut down entirely or partly, and 50% of the factories are now being repaired in the safe environment.

The workers safety alliance provides compensation for workers displaced by repair of garment factories, including 50% of workers' compensation for up to 4 months, while the other 50% are provided by factory owners.

Rabin said that at present, the alliance has completed safety training for about one million Bangladesh workers and managers, and has launched a safe anonymous hotline for workers. Workers can use the hotline to report the related safety problems in factories and do not have to worry about being retaliated.

"We have also successfully promoted the Bangladesh government to reduce import tariffs on fire safety equipment so that factory owners in the country are able to pay for safe import equipment.

In September this year, our memorandum of understanding signed with the National Fire Protection Association (NFPA) provided information, guidance and training resources for union members, factories and workers, hoping to help them maintain the health and safety of garment workers in Bangladesh.

Rabin said.

The construction of special economic zones will help the development of garment industry.

In Bangladesh's Dhaka textile and clothing forum, Bangladesh TexApp, Zahid Hussain, chief economist of the Dhaka office in the world bank, said that the construction of special economic zones will help Bangladesh's growth in clothing sectors, such as the construction of the special economic zone, which can effectively cope with the challenges posed by the poor infrastructure in the country.

Moreover, long-term political stability is necessary for the sustained growth of clothing exports.

"Bangladesh TexApp" was held during the fifteenth 2014 Bangladesh TexTech international exposition, and some international retailers, machinery suppliers, political representatives and entrepreneurs participated in the forum.

The forum discussed the issues related to the development of Bangladesh's garment industry, and discussed how to further push forward the industry in the next few years.

At the forum, Atiqul Islam, President of Bangladesh garment manufacturing export association (BGMEA), said that the basic clothing sector no longer needed foreign investment, but downstream industries welcomed foreign investment.

Trade confidence index increased 11%

According to HSBC's forecast report, in the first 5 months of 2014, Bangladesh's clothing exports increased by 11.7% over the same period last year, of which nearly 2/3 exports to the United States and the European Union.

Garment exports account for 80% of the total exports of Bangladesh, and the value of exports is greater than that of India.

The trade confidence index of Bangladesh also increased from 103 in the second half of 2013 to 141 in the first half of 2014, ranking second in 25 of the 25 countries reported by HSBC.

The report shows that in 2013, nearly half of Bangladesh's textiles and clothing exported to Europe, and 1/3 exported to the United States.

The EU is the largest trading partner of Bangladesh, and the export of Bangladesh to the EU's textile and clothing is still showing a steady growth momentum. Global demand continues to rebound, which also helps Bangladesh's garment exports.

Thanks to its geographical position, China, India, South Korea and Indonesia will become the fastest growing importing partners in Bangladesh.

Nevertheless, with the rising demand in western countries, the United States, Germany and the United Kingdom remain the largest export markets in Bangladesh, and will remain unchanged until 2030.