April 17, 2024

If US Imposes Sanctions, Garment Buyer Will Not Take Delivery

A US based fashion garment buyer has issued a letter of credit (LC) to a Bangladesh garment exporter, with the condition, that it will not pay the amount or take delivery, if US enforces sanctions on Bangladesh.

As per Prothomolo, this development was confirmed by Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), but did not disclose the name of the apparel exporter.

Bangladeshi clothing exporters were already worried after the US announced a new labour policy in November. But this new development has increased concerns of the exporters.

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