Foreign buyers have so far cancelled orders worth $3.15 billion in the wake of the novel coronavirus crisis, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), which recently said 1,134 factories have reported that 975.2 million pieces of readymade garments (RMG) worth $3.15 billion have either been cancelled or held up.
These cancellations will affect nearly 2.25 million RMG workers, it said.Foreign buyers have so far cancelled orders worth $3.15 billion in the wake of the novel coronavirus crisis, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), which recently said 1,134 factories have reported that 975.2 million pieces of readymade garments (RMG) worth $3.15 billion have either been cancelled or held up.#
“We’re facing a dire situation. All the buyers from different places, countries, and continents are suspending the orders,” BGMEA president Rubana Huq said in a video message.
BGMEA and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) announced closure of all factories until April 25 in a joint statement recently, urging factory authorities to inform respective trade bodies if any factory office remains open for disbursing wages and other payments during the period.
ALCHEMPro News Desk (DS)
marketing@alchempro.com
