According to the report published by the United States Fashion Industry Association (USFIA), around 55% of the US apparel executives expressed their interest to increase sourcing from Bangladesh till 2024, including 3% who expected a strong increase.
When asked from which countries or regions the US fashion companies planned to increase their sourcing value in the next two years, India led the way, followed by CAFTA-DR region and Bangladesh, with all three selected by more than half of the respondents, said the report.
CAFTA-DR or Dominican Republic-Central America FTA is the first free trade agreement between the United States and a group of smaller developing economies – Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Dominican Republic.
Mexico ranked the fourth, while Indonesia and Vietnam tied for the fifth position on the list of destinations from where the US buyers plan to increase sourcing.
