Dhaka [Bangladesh], October 20 (ANI): Garment exporters in Bangladesh are bracing for losses of up to USD 1 billion following a massive fire that tore through the cargo complex at Dhaka's Hazrat Shahjalal International Airport, just as the industry enters its busiest export season, Al Jazeera reported.

The blaze, which erupted on Saturday in the airport's cargo import section, destroyed large volumes of imported raw materials, finished garments, and vital product samples.

'It's a devastating sight,' said Faisal Samad, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). 'The entire import section has been reduced to ashes,' he added, warning that financial losses could run as high as USD 1 billion, as reported by Al Jazeera.

On Sunday, smoke was still rising from the scorched site as firefighters and airport officials surveyed the damage.

Among the destroyed goods were urgent shipments and critical samples used to secure new business deals.

'These samples are essential to attracting new buyers and increasing orders,' said Inamul Haq Khan, senior vice-president of BGMEA, as quoted by Al Jazeera.

'Losing them could seriously impact our future prospects,' he added.

The affected cargo village is one of Bangladesh's key logistics hubs, handling more than 600 metric tonnes of dry cargo each day, a volume that typically doubles during the October to December peak period, as reported by Al Jazeera.

'Each day, roughly 200 to 250 factories rely on air freight from this facility,' Khan noted. 'The financial impact is enormous given the scale.'

Authorities have yet to determine the cause of the fire, and an investigation is ongoing. This incident is the third major fire in Bangladesh in the past week.

As per Al Jazeera, on Tuesday, a blaze at a garment factory and nearby chemical warehouse in Dhaka claimed at least 16 lives. On Thursday, another fire engulfed a seven-storey garment factory in a Chittagong export processing zone.

The government has vowed to investigate each case thoroughly and warned that if sabotage or arson is found, it will respond 'swiftly and decisively'.

Bangladesh is the world's second-largest apparel exporter after China. The industry employs about four million people and accounts for more than 10 per cent of the country's GDP, supplying major global brands like Walmart, H&M, and Gap, as reported by Al Jazeera.

Industry leaders fear the fire will lead to significant shipment delays and further strain efforts to meet strict international delivery deadlines. (ANI)