Bangladesh Clothing Industry Is Favored By Spanish Fast Fashion Brands.

The Spanish retail group Inditex owns 8 major apparel brands including Zara, Bershka and other fast fashion brands.

The group's

Mainly from Bangladesh, the world's only garment exporter after China.

Despite the heavy problems in Bangladesh's clothing industry, the safety incidents that have been encountered have made the world's major clothing brands think twice in purchasing Bangladesh.

After rectification

The clothing industry is more considerate about plant safety and employment safety, because factories that have been inspected and shut down have emerged.

Plus the lower cost and the bigger cost.

Bangladesh clothing industry is still very popular with Spain and other European Union countries.

It is reported that in the 2013-14 fiscal year, the total export of Bangladesh clothing exported to Spain was US $1 billion 500 million, an increase of 24% over the same period last year.

Data from Bangladesh's clothing manufacturers and Exporters Association show that EU countries are an important target market for Bangladesh's clothing exports. Last fiscal year accounted for 60.21% of Bangladesh's clothing exports, reaching US $24 billion 490 million.

As a less developed country, Bangladesh still has another advantage at present. It is a free trade agreement with the European Union countries. It can enjoy full tax exemption and quota free entry into the EU market.

To this end, the Spanish ambassador to Bangladesh Luis Tejada said that the factory conditions in Bangladesh were improved significantly, and the Spanish government would encourage companies to buy more clothing from Bangladesh.

Related links:

OECD Secretary General Gulya released the latest economic outlook report before the summit of the group of twenty leaders, pointing out that global economic growth is still weak, and the widening gap between countries and regions poses great risks to the overall growth of the global economy.

Financial risks will continue to increase in the future, and may aggravate market volatility, but if countries adopt supportive growth policies, the global economic growth rate is expected to accelerate gradually.

The report points out that the global GDP growth in 2014 is expected to be 3.3%, and that in 2015 and 2016 will be 3.7% and 3.9%, respectively, lower than that predicted by OECD in September this year.

In the major developed economies, the US economy recovered strongly. It is expected to grow by 2.2% in 2014, 3% in 2015 and 2016, 0.8% slower in the euro area, 0.8% in 2014 and 1.7% in 2016 and 2016. Japan's growth will continue to be affected by the rise in consumption tax, which is expected to be 0.9%, 1.1% and 0.8%.

In emerging economies, the economic growth of countries in the coming years is quite different.

China is controlling its growth rate and striving for sustainable growth. Its growth rate is estimated to be 7% in 2015 and 2016, down from 7.4% in 2014 and increased in India.

The growth rate in 2015 and 2016 is expected to increase from 6.6% in 2014 to 6.6%. Brazil's economic growth has dropped sharply, and in 2014 only 0.3%, 2015 to 2016 has gradually returned to 1.5% and 2%. Because of the decline in oil prices and the sluggish trade, Russia has only 0.7% growth in 2014.

The report concludes that ambitious economic restructuring can promote economic growth in developed and emerging economies, and the group of twenty members will submit national development strategies at the summit of leaders of Brisbane to achieve the goal of 2% growth in the overall GDP growth of the twenty nation group in the next five years.