Experts call for long-term trade deals, offsetting global crises

Bangladesh’s readymade garment (RMG) sector is facing mounting pressure from global crises, shifting trade rules and rising costs, prompting experts to call for urgent trade agreements and structural reforms to sustain competitiveness.

The observations came on Saturday at the closing ceremony of the Bangladesh International Textile, Knitting and Garment Industry Exhibition (BTKG) 2026, jointly organised by the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Inforchain Digital Technology Co Ltd.

Speakers warned that geopolitical tensions and supply chain disruptions could further reduce export orders and increase financial stress in the sector.

At a seminar titled “Geopolitical Conflicts and Global Supply Chain Disruptions: Implications for the RMG Industry”, EuroCham Bangladesh Chairperson Nuria Lopez called for immediate negotiations on a free trade agreement (FTA) with the European Union.

She said Bangladesh’s graduation from least developed country (LDC) status without a durable alternative to preferential market access would be a major setback.

“An FTA with the EU would offer a permanent and predictable framework, unlike complex and uncertain schemes such as GSP+ and should be treated as a national priority,” she said.