Sandy May Affect The Ready-Made Clothing Trade Between Bangladesh And The United States

　　 hurricane Sandy It has hit New York, the economic center of the United States, and may have a negative impact on Bangladesh's export behavior. Because some important purchasing companies and fashion retailers were damaged by Hurricane Sandy in New York, local banks and commercial organizations expressed concern about this.

The export payment settlement with the United States may be interrupted because most banks in New York are still closed, or their disaster recovery centers face power shortage after being damaged by hurricanes.

However, the banking sector in the United States has not been in chaos as a whole, because most commercial banks have powerful DCRs (distributed version control systems), which are located outside New York.

However, after the hurricane, the DCRs of some banks in the United States are currently facing a lack of power. Therefore, the relevant banks and traders in Bangladesh will experience pain in recovering their business smoothly.

Exporters from Bangladesh, especially clothing The exporters expressed their delay in the recent new export orders and the possible payment and settlement of the relevant commercial units in New York.

Farouk, Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Hassan said, "Most of our exports are concentrated in New York. Obviously, this will have a negative impact on our export sector. We are concerned about this, because natural disasters have damaged our potential Clothing market One. "

Hassan said that, first of all, clothing exporters in Bangladesh are worried about whether they can get new orders from traders in New York, because many fashion upstarts have been severely damaged by Sandy Hurricane. Second, some prestigious companies may face huge losses because they were also affected by Hurricane Sandy. Their recovery will take time. Some Bangladeshi exporters may lose important buyers from New York. Third, Bangladesh Clothing export Businesses in their factories may face abnormal inventory within a specific time, because some New York retailers may cancel or postpone export orders.