{UAH} Uniqlo owner suspends Bangladesh travel after terror attacks

Frank Mujabi,

The economic impact of the terrorist attack in Bangla Desh begins to
bite. Remember, Bangladesh's garment industry is worth about $26bn
(£19.6bn). It accounts for about 80% of the country's exports and
millions of jobs.

The economy can easily be crippled by targetted terrorist attacks on
individuals, factories and infrastructure. 99% of Bangla Desh's
garments and clothings are out-sourced there by global clothings firms
and they are for export to foreign markets in the western countries,
Japan and China. It si the same problem the Phillippines is battling
with, because its tourist industry contributes 30% of the GDP and
employs 5 million people. Toursim is very easy to undermine, as you
can see how it has catastrophcally collapsed in Tunisia, and even in
Kenya after high profile terrorist attacks.

Bobby



Uniqlo owner suspends Bangladesh travel after terror attacks
4 July

Fast Retailing, the owner of Japan's clothing brand Uniqlo, has halted
non-essential travel to Bangladesh after the country's worst terror
attack.

Twenty people, including seven Japanese, were killed after Islamist
militants stormed a popular cafe in its capital Dhaka last Friday.

Toshiba, Mitsubishi Motors and several other Japanese firms have
reportedly advised their workers to avoid travelling there this month
as well.

Some 240 Japanese firms operate there.

Uniqlo has also told its 10 staff in Bangladesh to stay at home. The
firm had already put travel restrictions in place last year following
attacks on foreigners.

Bangladesh is a major production centre for retailers such as Uniqlo,
and analysts warn that its garment industry could face further
fallout.

The South Asian country is the second-biggest supplier of clothes
behind China, according to the Reuters news agency.

Bangladesh's garment industry is worth about $26bn (£19.6bn). It
accounts for about 80% of the country's exports and millions of jobs.

Retailers that have factories in the country include Marks and
Spencer, H&M and Gap.

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