The US-China trade war has been a blessing for Bangladesh as local garment manufacturers have been receiving a lot of work orders from both the countries, says a study by the Bangladesh Foreign Trade Institute (BFTI). Bangladesh’s share in the US garment market rose by 6.46 per cent in the first nine months of 2018, said the study’s author BFTI CEO Ali Ahmed.
Bangladesh will also gain in its cotton purchase as China, which used to buy cotton worth a little more than $1 billion from the United States, has stopped that purchase, according to the study.The US-China trade war has been a blessing for Bangladesh as local garment manufacturers have been receiving a lot of work orders from both the countries, says a study by the Bangladesh Foreign Trade Institute (BFTI).Bangladesh's share in the US garment market rose by 6.46 per cent in the first nine months of 2018, said the study's author BFTI CEO Ali Ahmed.#
The cotton price fell 10 per cent year-on-year in the October-November period due to oversupply, Bangladesh media reports quoted Ahmed as saying at a recent seminar.
Bangladesh will also receive a lot of investment as the owners of the Chinese sunset industries are looking for new destinations as production costs in China increased due to higher US tariffs and shortage of skilled workforce, the study found.
Humayun Rashid, former senior vice president of the Dhaka Chamber of Commerce and Industry, however, felt the country is not yet ready to exploit the benefits of the opportunities arising out of the trade war. (DS)
ALCHEMPro News Desk – India
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