Home ›› 06 Jan 2022 ›› Front
The US sanctions on RAB, its current and former officials would not impact bilateral trade relations, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said on Wednesday.
“The US is one of our biggest markets and to avoid trade sanctions, we are focusing on our development, workers’ safety and their rights,” he said during a dialogue at the Economic Reporters’ Forum (ERF) auditorium in Dhaka.
Hassan said some buyers had cancelled orders due to political unrest, which led to the closure of some factories.
“I request all political parties to arrange peaceful programmes. Considering the national economy, all political parties should participate in the next election and prioritise national interest,” he said.
ERF Vice-President Shafiqul Alam presided over this programme while ERF Secretary Rashedul Islam moderated it. ERF Joint Secretary Kutub Uddin Mohammad Jasim and Finance Secretary Rezaul Haque Kawshik were present.
On December 10, the US Treasury’s Office of Foreign Assets Control imposed sanctioned RAB and seven of its present and former officials for “human rights abuse and repression”.
China-West trade conflict and Myanmar’s political unrest prompted US buyers to look for alternative sourcing hubs for clothes, and they came to Bangladesh. Thanks to the development, the country’s apparel sector earned a record foreign currency since August 2021.
Apparel export to the US jumped 39.53 per cent to $3.34 billion in July-November 2021 compared to the same period of 2020, according to BGMEA.
Hassan said they were concerned about the sanctions, adding: “We don’t want to lose any market.”
