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US-CHINA TRADE WAR

Benefits depend on nifty response

Says International Apparel Federation chief

Star Business Report
The ongoing trade war between the US and China has created an opportunity for Bangladesh but it all depends on how the country utilises it, said International Apparel Federation's (IAF) chief yesterday.
The United States imposed tariffs on almost half of its $500 billion Chinese imports, which has affected many firms, including the apparel industry in China.
China has been losing its apparel business due to the new tariffs as many Western retailers and brands are shifting their work orders to other countries like Bangladesh, said Han Bekke, president of the Netherlands-based IAF.
“Western retailers and brands want a smooth supply chain in the apparel business but the trade war has disrupted the chain in China," Bekke told a press conference at the office of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in Dhaka.
Bangladesh still faces capacity constraints ranging from poor infrastructure to red-tape to skilled labour, which are barriers to reaping benefits arising from the trade war.
Bekke arrived on a two-day visit on Wednesday to see the safety progress that Bangladesh achieved at workplaces after the Rana Plaza building collapse in April 2013.
He said the IAF would extend its cooperation to Bangladesh for further growth of the trade.
World trade has been disrupted because some nations want to follow protectionist policies although free trade and fair trade are necessary for a better trading system. "We have a lot of responsibility for making our industries more sustainable,” Bekke said.
“Too many initiatives are trying to improve our business. We are working on combining these initiatives,” Bekke said, adding that there were many audits systems which cost a lot of money.
If these initiatives are harmonised, costs can be reduced, he said.
On the issue of the tenure extension of Accord, a buyers' group on inspecting garment factory buildings in Bangladesh for fixing structural, fire and electrical loopholes, Bekke declined to comment as the IAF was not a member of the Accord.
Matthijs Crietee, secretary general of the IAF, said many studies have dismissed the
fear that automation in the industrial sector would lead to the loss of jobs.
He suggested that Bangladesh invest more in education so that job aspirants can be turned into a skilled workforce to face challenges of automation in the industrial sector. Siddiqur Rahman, the BGMEA president, pointed at the rising cost of production in Bangladesh and the fall in prices of garment items.
He said the cost of production in the garment sector increased by 30 percent over the last four years.
Rahman also said the BGMEA and the IAF would jointly host a summit in Dhaka next year.
Issues to be discussed there include the Brexit fallout, introduction of a unified code of conduct in garment supply chain in Bangladesh and initiatives for brightening the image of Bangladesh's garment sector before the Western world.