According to the BGMEA, the order restoration value was around $0.21 billion as of Sunday
After a lot of persuasion, Bangladeshi apparel makers have so far been able to restore only 6.6 percent of their export orders.
Western buyers had withheld and cancelled those orders recently, citing the impacts of Covid-19.
According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the order restoration value was around $0.21 billion as of Sunday.
Currently, the total cancelled and withheld orders amount to around $2.97 billion, while it was about $3.18 billion until mid-April.
Rubana Huq, president of the BGMEA, told The Business Standard, "We managed to get some reinstatements of orders after a lot of persuasion.
"The total cancelled amount will be lesser than what is reflected now, as many buyers have agreed to accept orders that are ready and already been shipped. They have also agreed to accept WIP (work in process)."
She added, "The BGMEA was able to restore orders to a considerable extent. But, many buyers did not promise to utilise the unused raw material as yet on grounds of seasonality.
"Besides, many buyers have also begun saying that we are 5-6 weeks late and the deadline is over, so they are 'compelled' to cancel. That is unfortunate. The other thing that is stopping us from having a clear picture is the simple uncertainty regarding the payment terms, as almost all payment terms have changed to deferred payment."
Rubana Huq further mentioned that the BGMEA has launched a portal to track buyers and collaborated with international media and stakeholders.
DBL Group Managing Director MA Jabbar said the group is also enjoying some order restorations. Earlier, the company had reported to the BGMEA portal that some of their orders have been withheld.
Now they have no cancelled orders, as most of them have been converted to delayed orders, said MA Jabbar, adding, "We are working with buyers as partners for a long time."
The deadly outbreak of coronavirus in Europe and USA has forced consumers to stay home.
Shops remain empty despite offering hefty discounts in sales to customers, according to some suppliers in Bangladesh.
Bangladesh's exports, which witnessed about 83 percent negative growth in April to $520.01 million, which was $3034.21 million in the same corresponding period of the last fiscal year.
RMG typically contributes around 84 percent of the total export earnings in Bangladesh. Bangladesh exported $34 billion worth of garments in 2018-19 Fiscal Year.