Bangladesh's RMG Industry Hopes to Avoid USITC Penalty
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Apparel exporters in Bangladesh are optimistic that the United States International Trade Commission (USITC) will not impose any penalty against them. The sector has been navigating a challenging environment and tough global competition while following all international guidelines. Bangladesh's exports to the USA have increased despite reduced sourcing from the global market, thanks to lower labor costs, adoption of the latest technology, reduction in utilities costs, and low profit margins. The local readymade garment (RMG) industry has also made efforts to reduce its carbon footprint. However, due to a new wage hike, RMG manufacturing costs have increased by almost 30 percent. The government has been reducing additional facilities such as Export Development Fund (EDF) and cash incentives...
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