Bangladesh Textile Industry Intensifies

Under the influence of the global financial crisis, Bangladesh's textile and garment industry, which accounts for 75% of foreign exchange earnings, may face more serious problems if it does not take urgent measures to deal with it.

The Bangladesh Textile Industry Association said that the textile industry, which invested nearly 6 billion dollars, is now facing an unprecedented crisis. About $3 billion worth of yarn is not sold, and it is backlog in the warehouse.

The financial crisis began in September last year, and the cotton prices in the international market continued to decline. Bangladesh's competitors were dumping cotton yarns at low prices, as these countries used their advantages in producing cotton and textile equipment and dyes, and got preferential policies from the government to enhance their export competitiveness.

If this situation continues to develop, Bangladesh's main export industry, the clothing industry, will be in danger and the country's economy will be in a great predicament.

There are 350 spinning factories in Bangladesh, which provide 500 million kilograms of yarn to the knitting factory annually and provide 180 million kilograms of yarn to the weaving factory.

      服裝行業的問題還會殃及所有的銀行，因銀行業對紡織工業的信貸和投資占有最高比例。孟加拉政府應迅速采取措施因對挑戰，提供具體的鼓勵方案，將服裝出口的現金鼓勵從目前的5%增加到15%，同時嚴格禁止非法的紗線進口和傾銷。

Because of the impact of the financial crisis, clothing prices in the international market began to decline. Bangladesh's clothing export prices this year dropped by 20% over the same period last year.

In addition, the Bangladesh garment industry is worried that China's recent export of low-end clothing products has reduced tariffs, which has led to competition for exports of Bangladesh clothing products, because the products of Bangladesh are mostly low-end products exported to the international low price clothing market.

Editor in chief: Xu Qiyun