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Bangladesh’s primary textile sector is undergoing rapid changes with local millers taking to producing significant amounts of manmade fibres alongside cotton fibres to meet rising global demand.
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They were the hardest hit segment when the whole economy came to a halt because of the countrywide pandemic-induced lockdown.
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Bangladesh has joined two other countries to lead the global cotton trade recovery as the demand for the commodity has risen sharply thanks to buoyant apparel shipments, according to the United States Department of Agriculture (USDA).
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Local garment exporters are feeling the pinch of a sudden unusual rise in yarn prices in the local and international markets, a development that is threatening to derail the recovery of the apparel shipment from the pandemic-induced slowdown.
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Bangladesh needs to bring in further progress to the business regulatory environment in order to retain and attract foreign investors, said the top leader of the trade body of global firms operating in the country.
