Bangladesh’s apparel exports to the US grew slightly during July-September in the current fiscal. Bangladesh fetched $1.55 billion from readymade garment exports to the US during July-September the current fiscal, up from $1.343 billion during the same period last year.
The US is the biggest customer for Bangladesh’s apparel products. That country suspended the GSP facility for Bangladesh in June 2013 after the Rana Plaza collapse.
Since that incident the readymade garment sector in Bangladesh faced massive scrutiny regarding workers’ safety and compliance issues. But the sector has made efforts to ensure worker safety and meet compliance standards.
This progress has helped the garment sector regain the trust of foreign buyers, which was severely hampered by the collapse and some fore tragedies. The country’s garment sector is getting greater appreciation from international buyers.
Bangladesh used to enjoy the GSP facility from the US for a handful of products but apparel items were not among them. And it can’t be said that withdrawal of GSP affected Bangladesh’s exports to the US in any significant way.