Bangladesh

Apparel manufacturers in Bangladesh say they are concerned about the effect the recent “Brexit” vote in the United Kingdom could have on their own businesses. Industry insiders in Bangladesh say that the declining value of Britain’s currency following the vote would push import costs up for the country and that many British retailers were not willing to pay more for apparel imported from Bangladesh. As with Bangladesh’s other trading partners, garments make up the vast majority of exports. (The Daily Star)
 
The Bangladeshi government says it has cut the tax at source rate for readymade garment exports to 0.7%, reversing an earlier proposal to increase it. During a recent address, Prime Minister Sheikh Hasina noted that the move was made in an effort to help bolster export revenue in the country. Industry groups praised the decision. (Fibre2Fashion)