Bangladeshi garment accessories manufacturers seek loan facilities

According to Bangladesh’s “Financial Express” report on February 16, Bangladesh’s ready-made garment accessories manufacturers have expressed deep concern over the outbreak of the new coronavirus and are worried that they will lose money if the current situation continues for several months. About Tk 1,500 crore. The Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association, at a press conference, asked the government to consider providing loans to them in advance at nominal or zero interest rates to cope with the setback. The chairman of the trade body said that the sector imports about $4 billion worth of raw materials from different countries every year, 40% of which comes from China; members of the trade body are looking for new purchasing countries. Bangladesh relies heavily on China for production of yarns, chemicals and thermoplastic molding compounds, among others, he added. He urged the government to take all necessary measures to facilitate the unloading of imported raw materials when China resumes work after the holiday.