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RMG

RMG sourcing opts for free trade deal with India

When a well-known international sports brand approached Nagesh Sharma, who runs an apparel sourcing company from Gurgaon, with a huge order for tracksuit pants, Mr Sharma tried to source the product from India. He found only one apparel factory could match the buyer’s specifications. The primary problem, Mr Sharma says, is that India’s garment factories are too small; they typically have 150 people and about 80 machines. The average factory in Bangladesh has 600 people. Mr Sharma eventually sourced the order rmgfrom a Taiwan...

Bangladesh thrives on cheap clothes

Asia is in a rut. China’s economic growth is slowing, dragging down its neighbors, and Asian supply chains have struggled as demand for their products weakens, especially in tech. But as exports slump in economies across the region, Bangladesh has just recorded its highest monthly exports in history. As Bloomberg reported, the South Asian nation brought in $3.2 billion from exports in Dec. 2015, a record for the country. The World Bank, meanwhile, predicts Bangladesh’s GDP will grow 6.7% in 2016, making it one of the world’s fastest growing economies. So what’s its secret? Insatiable global demand for cheap clothes, which made up $2.67 billion, or more than 83%, of that monthly record.

RMG sector to get full-fledged institute, testing laboratory

A four-day international sourcing trade shows on RMG industry under one roof yesterday began in the city in a bid to making apparel industry more enriched. Industries Minister Amair Hossain Amu inaugurated the three international events as chief guest. He said, “About 300 factories in accessories and packaging sector are in operation in the country. Products ranging 30 to 35 are being produced in the backward industries of the RMG. The country earned about $5.61 billion in fiscal year 2014-15 by exporting surplus after meeting the local demand.” He said, the government is working to flourish accessories and packaging sectors. As part of

80pc garment factories safe

More than 80 percent of Bangladesh’s garment factories supplying global retailers have been found to be safe, the government said on Monday, citing improvements made after a deadly 2013 accident. Syed Ahmed, the inspector general of factories, said 1,475 garment factories had been assessed as part of a government initiative supported by the International Labour Organization, Canada, the Netherlands and United Kingdom. rmgbdSome 81 percent were found to adhere to building codes, as well as fire and electrical safety standards, he said. Among the other f...

TPP signing worries economists, trade leaders

Bangladesh is set to lose its competitive edge in global apparel business as trade ministers of 12 Asia Pacific nations signed the Trans-Pacific Partnership agreement on Monday. Economists and leaders of trade bodies suggested that Bangladesh should take preparations to join the landmark Trans-Pacific Partnership (TPP) agreement in future. Bangladesh is set to lose its competitive edge in global apparel business as trade ministers of 12 Asia Pacific nations struck the deal in Atlanta. rmgThe hard-won deal to create the world’s largest free-trade area, en...

RMG safety improving

National Retail Federation executives returning today from a visit to Bangladesh said a report issued by the Alliance for Bangladesh Worker Safety reflects improvements in garment worker safety they saw during tours of factories and other facilities. “The Alliance is doing important work to ensure the safety of Bangladeshi workers who make clothing worn by millions of Americans and other consumers around the world,” NRF Senior ranaplazaVice President for Government Relations David French said. “We saw first-hand in the past few days that significant...