Sri Lanka political crisis affects Bangladeshi garment shipments

Sri Lanka’s “Daily Mirror” reported on May 14 that the ongoing political crisis in Sri Lanka has led to strikes by more than 2,000 trade unions, and its spillover effects have hit South Asia, especially the garment industry in Bangladesh. An unexpected blow. Bangladeshi media reported that Bangladeshi garment industry manufacturers have expressed serious concerns about whether the goods can reach their destination on time as the goods are stranded at the Port of Colombo. About 40% of Bangladesh’s clothing transportation passes through the Port of Colombo as the main transshipment hub for sales to the United States and Europe. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said it is currently considering avoiding the Colombo Port and choosing ports in China or Singapore for transshipment to mitigate the impact of the Sri Lanka crisis on its exported goods. In addition, the fuel crisis broke out in Sri Lanka a few months ago, which led to the extension of the freighter transportation time from Chittagong Port to Colombo Port from 8 days to 11 days.