Bangladesh Garment Manufacturers and Exporters Association
Bangladesh’s garment industry at risk?
Bangladesh’s ready-made garment industry has long been a key driving force of the country’s economy. Duty-free access to the European Union market has particularly helped the sector build a strong position in the global market. However, the recently announced free trade agreement between the EU and India has created major concerns for Bangladesh. Analysts and industry insiders believe that once the deal comes into effect, Bangladesh’s competitive position in the European market may face serious challenges.
BGMEA demands tax waiver on recycled fibre
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested that the 7.5% Vat on the collection of raw materials and 15% VAT on supplying products to local spinning mills on locally recycled fibre be waived to attract more foreign investment.