Foreign buyers reluctant to visit Bangladesh amid political uncertainty: Exporters

Foreign buyers are pulling back from travel to Bangladesh due to political uncertainty, exporters said today (17 November), warning that order negotiations for upcoming seasons are already being disrupted, affecting purchase orders negatively. 

"About 70% of foreign buyers have cancelled their travel plans," said Shovon Islam, managing director of Sparrow Group and former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), while speaking at a discussion at Uttara Club in Dhaka.

Business leaders from the ready-made garments, textiles, accessories and garment buying house sectors attended the event, organised under the theme "Business Crisis and the Way Forward".

Bangladesh Garment Buying House Association (BGBA) President Mofazzal Hosen Pabel also said overseas buyers were cancelling scheduled trips, leading to delays in discussions for new purchase orders.

Leaders at the event identified high bank interest rates, frequent policy shifts, fuel shortages, business security concerns and renewed incidents of arson as major obstacles facing the export sector. 

They stressed that stability and a democratic government were essential to restore confidence among international buyers.

They said large buyers usually visit Bangladesh during this period to negotiate summer and fall holiday orders, but the current environment has disrupted that cycle.

Shovon Islam said the absence of buyer visits would hurt export flows in the coming months. "We see that our export forecast for the next three to four months is not favourable," he said.

BTMA head warns government of repercussions

Bangladesh Textile Mills Association (BTMA) President Showkat Aziz Russell cautioned that those responsible for the current situation would face accountability in the future. 
Referring to those in charge, he said, "When you leave, your actions will also be taken into account."

"Even the current advisers will be forced to face accountability," he added.

Business leaders seek ministerial rank, upper-house quota

During the discussion, Shovon Islam demanded that the president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) be given the rank of a minister.

In the same event, BGMEA President Mahmud Hasan Khan Babu urged political parties to include 10 business representatives in the upper house of parliament alongside members of parliament.

Speaking to The Business Standard after the event, he said, "The upper house should have 100 members, where political parties will nominate proportionate representatives. We will request political parties to include 10% business representatives in their lists – people who are not directly involved in politics."

"If this is done, they will be able to speak in parliament on behalf of the business community," he added.