Bangladeshi textile demands more aid to export against costs increase
The country's clothing manufacturers seek to counteract the increase in production costs and low prices with which they work. The sector's exports represent 16% of the country's economy as a whole.
The textile of Bangladesh demands more public aid. The country's garment manufacturers have asked the government to raise subsidies for exports because they believe that the expense approved for this year is not enough to offset the increase in production costs and low prices.
The country's clothing manufacturers are asking the executive for a 5% increase in subsidies for the sector's exports. The employer of the sector in the country, Bangladesh Garment Manufacturers and Exporters Association (Bgmea), has indicated that the prices of the clothes in the European and American markets descended a 3.64% and a 7.4% from 2012, according to Reuters.
On the other hand, the business organization points out that product costs have also increased, largely as a result of the increase in labor costs boosted by the latest wage increase.
Exports of the Bengali textile and clothing industry generate 30,000 million dollars each year, 16% of the economy as a whole. The sector employs around four million workers in the country.
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