It is heartening to note that the readymade garments factories of the country are getting more orders from overseas buyers in the recent months and thus creating a good image across the world. Buyers are also happy with us for running worker-friendly as well as environment-friendly factories as per commitment. Stats show that Bangladesh is now in the top position among the top performing environment-friendly RMG industries across the world. Factory owners will have to be more careful regarding buyers’ confidence so that they stay with us in the future.
It is indeed good news that RMG sector has registered 14.51 per cent growth by exporting merchandise worth $20.22 billion in July-January (2018-2019) period of the last fiscal. This means the sector is almost near fulfilling its ambitious plan of exporting merchandise worth $50 billion in the near future.
The RMG accounted for 83.61 per cent of the total export earnings of $24.18 billion during this period whereas earnings were $17.65 billion over the same period in the previous fiscal.
We hope BGMEA will be able
to export RMG worth 50
billion by 2021 to set
a new milestone
It is also worth mentioning that the knitwear export stood at $10.14 billion during July-January in FY 2018-19, posting a 13.86 per cent growth from $8.9 billion over the same period of the previous fiscal year. Export earnings from the woven fabric rose by 15.18 per cent to $10.07 billion in the last seven months in FY19 from $8.74 billion in the same period of the previous fiscal.
Knitwear and woven export earnings crossed the target by 9.29 per cent and 6.05 per cent respectively. The figures were $9.28 billion (knitwear) and $9.5 billion (woven) correspondingly. The stats were provided by the Export Promotion Bureau (EPB).
In this regard we must mention that regular support is being given by the present government towards developing the two sectors with pragmatic policy.
However, industry leaders feel that these sectors need fiscal support from the government, including reducing the timeframe to discharge export items from ports as well as improving communication systems which can help boost the export flow further.
We hope BGMEA will be able to export RMG worth 50 billion by 2021 to set a new milestone.