September 18, 2018

Bangladesh’s garment sector is turning into a beneficiary of the US-China trade war as American retailers are placing more work orders, but other sectors, such as jute and leather goods, are yet to see an uptick in fortunes. Though China is by far the world’s biggest exporter of manufactured goods, some factory owners over the past decade began moving production to other developing countries such as Bangladesh, Cambodia and Vietnam, said a recent report of The Financial Times. This was in search of cheaper wages and a hedge against the political and economic risks that come from reliance on one country. “Factory owners and US buyers say the trade war will intensify this shift,” said the London-based news organization’s observation proved true as local garment manufacturers acknowledged receiving more work orders from the US

Source: RMG BD