Terrorist attack "a tipping point" for Bangladesh?
A fatal terrorist attack in the Bangladeshi capital at the weekend killed 20 people – many of whom worked in the country's textile and clothing industry. Is this latest attack a tipping point for Bangladesh?
A fatal terrorist attack in the Bangladeshi capital at the weekend has left the country's key garment industry in turmoil, with buyers rethinking travel plans and potential economic fallout for a sector reliant on foreign investment.
Bangladesh's garments exports have continued to grow at a steady pace despite the country's image taking a hit following the Tazreen and Rana Plaza disasters – with the EU, Canada and the US all increasing imports in the last year.
Market diversification, worker and factory safety, and ensuring a steady supply of skilled workers are all challenges Bangladesh's garment industry needs to overcome if it is to achieve its goal of doubling exports to $50bn by 2021. But in the short term, Bangladesh will need to address the country's safety issues if it wants to continue attracting buyers.
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