News
Political turmoil in Bangladesh, Supply Chain crisis emerge
In the wake of the latest political uproar and civil protest, Bangladeshi Supply Chains are experiencing disruption. Factories had been shut for 2 days, Customs process were suspended, and exports had come to a halt. As of Aug 6, Businesses are being allowed to continue as normal, the internet and mobile connectivity have been restored. The Chittagong port is operational and is allowing movement of export & import cargo. However, delays can be seen in operations as only minimal staff is on site.
The Dhaka Airport was shut on Aug 5, resumed operations from Aug 6. However, many flights are delayed, cancelled or reduced frequency. Thus, impacting Air Freight Movement tremendously.
The turmoil is heavily affecting Bangladesh’s Ready-Made Garment (RMG) Industry, which is the country’s major foreign exchange earner. Bangladesh Garment Manufacturers and Exporters Association stated that they had already incurred losses of some $270m due to the shutouts. Indian apparel exporters have spotted an opportunity to avail greater market share as Bangladesh exports are likely to remain disrupted for a while.