Rise of African garment exports poses threat to Bangladesh
According to the “Daily Star” report on July 19, benefiting from the United States’ African Growth and Opportunity Act (AGOA), African countries’ garment export markets have grown rapidly in recent years. According to statistics from the International Trade Center, garment exports from 39 sub-Saharan African countries reached US$2.6 billion in 2016 and are expected to exceed US$3 billion in 2017. Affected by this bill, in recent years, more than 10 Bangladeshi garment manufacturers have successively invested and built factories in Ethiopia, Kenya and other countries through joint ventures or wholly-owned enterprises. Analysis points out that the rise of the African garment export market is an important reason why Bangladesh’s garment exports grew by only 0.2% in the 2016/17 fiscal year. The rise of African garment exports poses a threat to Bangladesh
AAA
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