The recent US visa restriction on some Bangladeshi nationals will not have any impact on the readymade garment (RMG) export to the United States, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
He also said that visa restrictions apply to specific individuals, not the entire nation.
The United States retains the right to manage its entry policies, he added but emphasized that the primary concerns for businesses involve labour rights, minimum wages, sustainability, and environmental matters. If Bangladesh excels in these areas, visa-related trade impacts can be mitigated.
These remarks were made during a press briefing on current issues at the BGMEA Complex in the capital city on Tuesday.
BGMEA denies the allegations of money laundering of 10 factories
The trade body denied the information of money laundering worth Tk300 crore by 10 RMG factories in Gazipur and Dhaka.
Customs Intelligence recently published a statement regarding this.
The BGMEA president said that the news is false and fabricated and belittles the country and the entrepreneurs to the buyers.
A vested syndicate group is working behind it, he claimed.
When the industry is moving forward contributing to every aspect of the national economy, the Customs Intelligence recently issued a press release and the main dailies of the country have published it under different titles, he added.
Among the 10 members, four are members of the BGMEA, two are members of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), and four others are not members of either BGMEA or BKMEA.
He claimed that they inquired about the total issues and they didn’t find anything wrong with the six member factories.
He demanded the formation of a separate task force to investigate the allegation of money laundering by the garment factories so the truth comes out.
“I say, if someone is accused, law enforcement agencies should investigate them properly and if proven, then bring them under the proper punishment. But it is not fair to discredit the industry as a whole by issuing press releases and publishing it in the media,” he added.
He urged it imperative to identify the vested interests involved in such heinous activities and bring them under the law.
Regarding the export scenario, he said that in the first seven months of this year, the overall apparel imports of the United States and the European Union have come down at an alarming rate, falling by nearly 20% and by 12% to the US and Europe, respectively.
“As North America and Europe account for about 80% of our total exports, instability there will have an adverse effect on our industry. We have always focused on market expansion and the creation of new markets to overcome this vulnerability,” he added.
Ex-BGMEA Presidents Shafiul Islam Mohiuddin and Abdus Salam Murshedy also spoke at the event.
BGMEA Senior Vice-President SM Mannan Kochi, Vice-President Shahidullah Azim, directors, and top entrepreneurs were also present at the event.
