CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
RMG sector local value addition at 74.84%
Local value addition by the country’s Ready-Made Garments (RMG) industry stood at 74.84 per cent during the first half of the current fiscal year. During the period, raw materials imported through back-to-back letter of credit (L/C) stood at US$ 3.71 billion in July-December period of 2017. Total value of RMG export stood at $14.77 billion. The value of raw materials stood at 25.16 per cent of the total RMG export value
10 more RMG factories lose business relations with Accord
Accord on Fire and Building Safety in Bangladesh has sever business relations with 10 more Bangladeshi readymade garment factories due to their failure in implementing workplace safety measures suggested by the platform. With the latest 10 factories the buyers’ platform has so far cut business relations with 143 factories that produce products for the retailers of European Union. Out of 10 factories nine were faced business termination due to failure in impleLmenting workplace safety measures while one was terminated due to failure to submit a corrective action plan.
India-Bangladesh freight train service to begin in two months
The India-to-Bangladesh freight train service — with regular service set to begin within two months — will provide shippers with a cheaper, quicker, non-truck transport option. The train has the potential to substantially reduce transport costs from about $800 by truck to about $730 by train per TEU. Transport time will also take days instead of about two weeks or longer. The first freight train will arrive at Dhaka from Kolkata on March 27, carrying mainly apparel industry and consumer goods.
