- Bangladesh army to protect textile factories
Recent Unrests in Bangladesh with Hundreds of Deaths
Following the recent unrests in Bangladesh that resulted in hundreds of deaths, the army has been deployed to protect the country's vital textile factories. Representatives of the army and industry have stated that soldiers have been sent to affected industrial districts to ensure temporarily closed factories reopen and production runs smoothly. This action was taken a day after a transitional government led by Nobel Peace Prize laureate Muhammad Yunus took office.
Looting
The Bangladesh Chamber of Commerce has reported looting, destruction, and arson attacks on numerous textile factories. Many businesses have temporarily closed out of fear of further attacks due to the absence of law enforcement. Bangladesh's economy is heavily reliant on the textile industry, with around 4,000 textile factories employing over four million people, predominantly women.
Soldiers Patrol
Soldiers have begun patrolling affected industrial areas, according to a director of the Bangladesh Garment Manufacturers and Exporters Association, Shovon Islam. A special unit has been formed for this purpose, as reported by local TV station Jamuna.
Former Prime Minister Sheikh Hasina, who had been ruling Bangladesh increasingly autocratically, fled the country towards India amidst weeks of street protests. Local media reports suggest that over 400 people died in violent clashes between protesters and police, as well as violence following Hasina's departure.
German Retailers Expect Impact on Consumers
The German Retail Federation (HDE) expects noticeable effects and potentially rising prices for consumers due to the conflict. "As an important production location for the global fashion industry, short-term factory closures and production stoppages can lead to shortages," said HDE CEO Stefan Genth to the German Press Agency. Consumers may face higher prices and reduced availability of fashion items.
Bangladesh is the second-largest supplier of clothing to the German fashion industry after China. According to the Federal Statistical Office, goods worth a total of 7.1 billion euros were imported to Germany in 2023.
The European Union expresses concern over the unrest in Bangladesh and the impact on its textile industry, being a significant provider of clothing to European markets. Officials from the EU have called for a swift resolution to the crisis to ensure the continuity of trade relations.
Given the situation, European Union trade representatives have scheduled a meeting with the new transitional government led by Muhammad Yunus to discuss ways to minimize disruptions and maintain stable trade relations.
