Mohammad Hatem, President, BKMEA
Of course, we commend Commerce Adviser SK Bashir Uddin and his team for their relentless efforts in this regard.
This move will create valuable opportunities for the country’s readymade garments (RMG) sector.
Following the imposition of the 20% reciprocal duty, the total tax burden will rise to 35%, with US consumers bearing the additional 20% cost. As a result, buyers in the United States may attempt to offer us unfair prices. Exporters should not accept these unreasonable demands, as it will be challenging for buyers to find alternative sources immediately.
In addition to this challenge, the country’s RMG sector will face another significant one after the LDC (Least Developed Country) graduation, as all duty-related benefits will be withdrawn.
However, the export sector is not yet adequately prepared to confront this. The government must immediately announce a roadmap to address these challenges.
