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GSP facility of EU for apparel underutilised

August 23, 2006 (Bangladesh)

Generalised System of Preference (GSP) facility provided by the European Union (EU) for the apparel sector was underutilized in 2005 as the exporters of local readymade garments (RMG) did not cash on it.

The total exports to EU countries stood at Euro 3.657 billion in 2005, a mere utilization of 64.5 percent of total GSP facility as per the information provided by the Ministry of Commerce from Bangladesh Embassy in Belgium.

Bangladesh has been exporting RMG products to EU member countries through the GSP facility for a long time. Knit-wear sector utilized 85.30 percent of GSP while woven sector just utilized 27.50 percent of total GSP. Apparels items made with other material used 95.20 percent of their share.

The underutilization has been caused by the incompetence of woven sector and lack of backward linkages and the exporters have advocated the establishment of excellent backward linkages to support RMG sector.

More Apparel/Garments News - Bangladesh...

 
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