It was an ultimatum that sent ripples through Bangladesh’s garment industry: If the interim government failed to safeguard domestic yarn production by suspending duty-free yarn exports under the bonded warehouse facility, the Bangladesh Textile Mills Association warned, all mills would be indefinitely closed starting February. “We do not have the capacity to repay bank loans,” BTMA president Showkat Aziz Russell said at a press conference in Dhaka last week. “Even if we sell off all our assets, it will n ...

The reforms to the UK's Developing Countries Trading Scheme means Sri Lanka fashion manufacturers can now source up to 100% of materials globally while maintaining zero UK tariffs. Plus, fewer processing requirements now apply, removing the previous rule that two significant manufacturing processes must take place in Sri Lanka. The liberalised rules also include the creation of an Asia Regional Cumulation Group of 18 countries applicable to all other exports from Sri Lanka. This enables Sri Lankan manuf ...