Bangladesh Foreign Secretary Masud Bin Momen expressed concern about a US presidential memorandum because of the possibility of restricted entry for Bangladeshi garment exports to the US market.
He also raised apprehension that progress made in improving worker conditions in apparel factories would be hampered if restrictions were to be imposed.
Momen said this while addressing a seminar on ‘Global Economic Slowdown, Bangladesh’s Apparel Industry, and Decent Work’ organized by the Bangladesh Institute of International and Strategic Studies.
“He also expressed worry that these restrictions would also hurt sourcing raw materials and exporting to various countries,” media reports stated.
According to the foreign secretary, garment export earnings and the Bangladesh economy had already been impacted by the coronavirus pandemic and the Russia-Ukraine war.
“There is apprehension that commitment of Bangladesh to labor and human rights would affect the country’s exports, but I am optimistic that the memo will not hamper exports,” Mashiur Rahman, former Economic Affairs Adviser to the Prime Minister, added.
‘Bangladesh is one of the cheapest destinations for manufacturing garments, and these countries or regions cannot immediately switch their manufacturing to any other country,” Mashiur stated.