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B'desh to set up new SEZs to boost garment sector
10
Feb '12
The Government of Bangladesh will establish new special economic zones (SEZs) in various parts of the country in its effort to promote industrialization, including the garment sector, in the country.

Inaugurating the ninth Dhaka International Textile and Garment Machinery Exhibition (DTG 2012), Finance Minister AMA Muhith said, there are three SEZs already operational in the country, and four new SEZs will be established within the next few months.

The Minister said the Government will ensure that the new SEZs have all facilities like communication, energy and transport. He added that the Government will also help investors in acquiring land at the SEZs.

Textile machinery producers from Canada, India, Germany, Pakistan, Turkey, the US and the UK are participating in the four-day DTG 2012 expo, which is being jointly organized by the Bangladesh Textiles Mills Association (BTMA) and Yorkers Trade and Marketing Services Company Ltd.

In all, exhibitors from 31 countries are participating in the expo, which provides a good opportunity to Bangladeshi entrepreneurs to interact with foreign participants and collaborate with them to upgrade their technology and machinery.

Mr. Muhith stressed on the need for greater understanding among various textile and garment associations in the country, including BTMA, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Mr. AK Azad, President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said several entrepreneurs from countries like Japan, Germany and Turkey have expressed their keenness to invest and relocate their industries to Bangladesh.

He mentioned that a great amount of foreign investment will flow into Bangladesh, if the Government provides required support.

Mr. Jahangir Alamin, President of BTMA, said, the primary textile sector (PTS) of Bangladesh provides a strong backward linkage for the country's export-oriented readymade garment (RMG) industry.

He added that the domestic textile mills have the capacity to meet 85-90 percent of the total knit yarn needs and 35-40 percent of overall woven fabric requirement of RMG exporters.

Fibre2fashion News Desk - India


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