Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), the apex trade body to represent solely the knitwear industry of Bangladesh, urged the European Union (EU) to extend Generalised System of Preferences (GSP), a trade privilege, for the next 12 years.
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Bangladesh's woven garments are losing competitiveness on the global market mainly for longer lead time, poor backward linkage, and insufficient gas and port facilities, business people said.
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Bangladesh's trade privilege in US markets has been again denied as President Donald Trump's administration goes on to enforce the trade preference programme's eligibility this week.
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CPD RMG Study Stitching a better future for Bangladesh