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The agreement comes at a crucial time for Bangladesh, which has been grappling with declining orders from several markets amid global economic slowdown and higher production costs.
Singapore imported apparel worth $**.*** million from Bangladesh during January–July ****, a sharp **.** per cent decline compared to $**.*** million in the same period last year, according to *fashion.com/market-intelligence/texpro-textile-and-apparel/" target="_blank">sourcing intelligence tool TexPro. This steep drop reflects subdued demand, possible diversion of sourcing to competing countries like Vietnam and Indonesia, and a broader contraction in Singapore’s apparel imports.
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