Bangladesh has slipped to the 7th position from the 5th as an apparel sourcing destination for the United States as US fashion companies deem Bangladesh risky in terms of trade compliance, according to the US Fashion Industry Benchmarking Study revealed on July 20.
The survey jointly conducted by the United States Fashion Industry Association and Sheng Lu, assistant professor at University of Delaware, asked 34 executives from the leading fashion and apparel brands, retailers, importers, and wholesalers about the business outlook, sourcing practices, utilisation of free trade agreements and preference programmes, and views on trade policy.
Among all sourcing destinations examined this year, the study found Bangladesh as the most competitive in terms of price, but the riskiest in terms of trade compliance.
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