The country's readymade garment (RMG) sector, the main source of export earnings, is returning to normalcy with fresh orders coming from different country's to meet up their demands amid Covid-19 pandemic.

According to BGMEA sources, the country's garment manufacturers are receiving a huge number of fresh orders although buyer countries cancelled orders earlier during the epidemic.

It said the sector received around 75 percent target of orders for August, September and October and 60 percent orders for November and December.

The rest of the target might be filled up soon as the volume of order is increasing day by day as most countries which stopped buying garments suddenly have started buying again.

This year, the RMG sector has a target of exporting garments worth about US$38 billion.
Although the global buyers are returning orders currently, price of products has gone down by about 10 percent.

As a result, most exporters might have to continue with the orders for only survival in the market.
However, Bangladeshi entrepreneurs are happy to get response from buyers. They said as the Covid-19 situation is improving globally, the situation for the exporters and producers is also improving.

Global buyers for Bangladeshi products have reopened their stores. Europe and America, the main markets for Bangladeshi garments, are also returning to normal situation.

Sources said garment owners got back 80 percent of the stagnant orders during the Covid-19. The market value of exported products is more than US$ 3 billion.
In addition to receiving old orders, new orders from foreign buyers are also under process. However, most of the new orders are coming with lower price and for less expensive products.

While talking to this correspondent, Bangladesh Garment Manufacture and Exporters Association (BGMEA) President Rubana Haq said the BGMEA is negotiating and mediating with the buyers. They are trying to solve their problems.

Along with receiving fresh purchase orders, they are trying to compel the buyers to follow the conditions. The buyers have been requested to fulfil the conditions for payment.

"In many cases, they take as long as six months or a year to pay. Some people are forced to allow discounts. The BGMEA is trying to resolve the problems with consultation."

According to sources, a total of 72,359 containers have been exported through Chattogram Port breaking the record of the last 18 months. And the main export products are ready-made garments. Garment owner's hope that the export trade is on the rise as orders stuck in the Covid-19 disaster are starting to return.
AM Chowdhury Selim, Vice President of the BGMEA said the infrastructural facilities in the garment industry of Bangladesh are much better than other countries. As a result, the foreign buyers come back in Bangladesh.
All sorts of complications, from the import of raw materials to the export of ready-made garments, need to be addressed quickly to keep foreign buyers confident, he added.

Ahsan H Monsur, Executive Director of the Policy Research Institute (PRI) said he was satisfied with the recovery in export earnings despite the epidemic.
Bangladesh earned $3.24 billion from export in July, the first month of the current fiscal year, according to a provisional data of Export Promotion Bureau (EPB) which is 83 percent of the RMG sector.
The RMG export increased 4.3 percent of the total target.   

All the garment factories were closed on March 26 to prevent Covid-19 infection. However, the factories were opened on a limited scale from April 26.
Siddiqur Rahman, former BGMEA president and FBCCI Vice President said, "Buyers are now taking some products from orders suspended and cancelled earlier. Some new orders are also coming."

According to the World Trade Statistical Review 2020, published by the World Trade Organisation (WTO) last week, Bangladesh's global market share in apparel exports stood at 6.8 percent in 2019, which was 6.4 percent in 2018.

Bangladesh's global market share in apparel exports has increased by 0.4 percentage point to 6.8 percent in 2019 after a slight fall in the previous year. Total market size of global apparel fell to $411 billion in 2019 from $421 billion in 2018.