The Bengali government studies the reduction of origin tariffs that clothing manufacturers must pay at the time of sending it to international markets
Bangladesh and its fashion industry get some fresh air. The country’s Government will reduce the origin tariffs that clothing exporters must pay. If the measure is approved, the tariff will lower from a 0.70% to a 0.25%.
The measure is being analysed in light to the increase of wages that garment manufacturers in Bangladesh will be granted with. Starting in December, they will get paid in 8,000 takas (95 dollars) each month, which is a 51% more than what they receive as of today.
The president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Mohammad Siddiqur Rahman, has asked his country’s Government to apply fiscal profits under the purpose of making companies maintain their competitivity against others from the neighbouring countries, as stated by Fibre2fashion.
Bangaldesh’s fashion exports were raised a 15% during the first quarter of 2018 (ended last September), reaching the figure of 8.19 billion dollars (7.09 billion euros).