Textile industry plays a very
vital role in the export history of Bangladesh. It contributes to approximately
80% of the foreign exchange revenue generation. The industry generates
employment opportunities for more than 4.5 million people. The industry is making
a notable contribution for the growth of the country's economy and foreign
exchange earnings.
The Golden Industry of Bangladesh:
Jute industry has played an
integral role in the development of the countrys economical growth. The
industry is primarily export oriented. But, with the advent of other synthetic
fibres, and increased consumer demand for apparels made from those fibres, this
golden fibre went into extinct.
Generally used as a raw material
for making sacks, jute is a versatile fibre given to mankind by nature. Currently
is has various applications starting from handicrafts to technical textiles. This
is the cheapest lingo cellulosic fibre. Exports of jute are both on raw fibres,
and jute manufactured goods. Not until recently, world understood the value of
this natural fibre. With the growing threat of global warming and awareness
among the people to live an environmentally friendly, the fibre has regained
its importance. A surge in the export of jute products has resuscitated the
industry.
Bangladesh is now all set to take
part in the global competition for high value and competitive jute products. More
than 90% of the worlds raw jute fibres are being exported from Bangladesh. Every year exports are approximately 3, 00,000 to 4, 00,000 tons. Government of
Bangladesh has implemented new policies to focus on the production capacity
of jute based products, diversification of the product base and growth of
export earnings.
Fibre2Fashion had the
opportunity to converse with Mr. Abdul Latif Siddique, Minister, Ministry of
Textiles & Jute, Bangladesh. He optimistically asserts that the textile
and export oriented garment industry of Bangladesh has achieved a burgeoning
growth during the last two and a half decades
- From your perspective, how
would you observe the global market for jute products?
The market for traditional jute
products has declined over the years due to competition with the different
cheaper goods produced from synthetic and polypropylene. But with the increased
environmental awareness about the use of eco-friendly and bio-degradable
products, popularity of jute products have been on rise both in developed and
developing countries for effective retardation of ecological degradation. It
has diversified use as industrial raw materials, intermediate and end use
products having global market demand. Jute has a great potential to contribute
to create a larger employment opportunity, income generation and poverty
alleviation through improvement of quality of jute fibre, adaptation of new
technologies and processes for diversified jute products and alternative use of
it.
- As we know, recession is
sending shivers all across the globe. What is its impact in the textile
and garment sector of your country?
But the global economic recession
started in the recent years created a negative impact on the overall demand of
T&G (Textile and Garment) products. This has also affected the export
market situation of T&G products of Bangladesh in the following ways:
- Export order reduced to a
considerable level,
- The buyers are offering
unusually low price to the manufacturers / exporters and
- The profit margin for T&G
export now reached to a minimum or even lower than the break-even level.
- What are the challenges
faced by the textile industry of Bangladesh?
Bangladesh is now facing severe competition with the textile
rich countries like China, Pakistan, India, Indonesia and many other countries
in respect of export of T&G products. Bangladesh is now trying to overcome
the marketing crisis of T&G by enhancing financial package, rescheduling of
loan and repayment of overdue interest at a reasonably reduced rate,
strengthening human resource development programme etc.
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