Bangladesh Garment Manufacturers and Exporters Association has struck a deal with a Spanish company for providing its members warehousing facilities in Spain and other parts of Europe.

If shipment of any BGMEA member exporter is cancelled or rejected by the importer while on the way or after reaching any European port, the Spanish warehouse operator would arrange release of such consignments form the ports and arrange their warehousing until the consignment can be sold to a fresh buyer.
   Every year many on-the-way shipments of Bangladeshi exporters face cancellation by the importers, creating untold hassles for the exporters in clearing the consignments.
   Spanish logistic company Yu-Kom-Publicidad S.L. has entered into an agreement with BGMEA for providing such warehousing and stock sales services.
   BGMEA president Abdus Salam Murshedy and Yu-Kom executive Nuria Lopez signed the agreement on Tuesday at a ceremony held at BGMEA Bhaban on Tuesday.
   ‘This warehousing facility will minimise the loss of our exporters… They can now avail this facility by paying small charges and find new buyers to sell their consignments,’ said Mureshedy.
   In 2009, Bangladesh’s clothing shipments to Europe amounted to more than 5.1 billion Euros which is around two-thirds of the country’s entire apparel export proceeds.
   Murshedy said BGMEA would arrange similar warehousing facilities in United States and Canada to help the Bangladeshi exporters.