Bangladesh’s knitwear exports decline

The Minister of Finance of Bangladesh said that the global economic crisis will eventually affect local export trade, and the government will soon set up a working group to deal with the problem of declining exports. He also made it clear that the currency taka will not depreciate against the US dollar and the exchange rate will be based on market changes without government intervention. The global economic recession has had a negative impact on the jute products, knitwear, and woven garment industries in Bangladesh. The chairman of the Bangladesh Knitwear Manufacturers and Exporters Association said that due to the reduction in foreign orders, knitwear exports have been affected, and we ask the government to give knitwear manufacturers and exporters a 5% tax discount in 2009.