BGMEA Concerned About Potential $27 Billion Export Loss: Report said

The BGMEA is deeply concerned about a recent report suggesting that Bangladesh may face significant challenges in its fashion manufacturing industry by 2030. The report, conducted by Schroders and Cornell University, predicts a potential $65 billion loss in apparel export earnings from four Asian countries due to extreme heat and flooding by 2030. Specifically, Bangladesh could lose $27 billion in exports and 250,000 jobs in the fashion-manufacturing sector. BGMEA President Faruque Hassan highlights the critical issue of climate change and Bangladesh’s vulnerability, expressing the industry’s commitment to addressing these challenges. He mentions the industry’s adaptation to new challenges, particularly in responsible manufacturing and sustainability, and emphasizes the importance of continuous improvement.”