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Apex garment body welcomes port transit facility
Feb '10
Bangladesh Garments Manufacturers and Exporters Association (BGMEA) leaders said that the transit facility to the neighbourhood countries would steer new possibilities for the nation's economic development and this may be looked upon as a landmark for nation's economy.

While answering to a query at the press conference on CAFAXPO-2010, Nasiruddin Chowdhury, First Vice President of BGMEA stated that, the nation's economy is heading towards attaining a new height of progress via utmost exploitation of the nation's harbors that have remained fallow over a long period of time.

The transit should be awarded an economic rather than a political viewpoint, and that in this era of global linkage no one can do away with such a pact between concerned countries, he added.

Restating the BGMEA's acceptance note to the government's courageous and pro-economic pact with India in the course of Prime Minister's Sheikh Hasina's recent visit to New Delhi, he stated that, in this age of rapid globalization there is no room for confinement.

At present the priority is to enhance the capacity of the Chittagong port amid other infrastructures, so as to enable the country to gain utmost advantage out of the transit facilities that it extends to its neighbouring countries, he said while answering another query.

He negated chances of any undesirable influence on the country's garment sector post induction of the transit facility to India.

Chowdhury said that the country's Readymade Garments (RMG) sector after experiencing the worst global downturn in the previous year, which resulted in negative export growth, has started recovering by the last year end. The sector witnessed a positive growth of 15 percent in October last year while the figures for last November and December revealed a negative growth of 6 percent.

USA and European countries are extending large export orders to us and also new market opportunities are opening up in Japan, he informed and also added by saying that now maintaining this order flow is the primary concern for the sector which is facing a gigantic price crash that has led to cut throat competition in the industry.

He also stated that they have been trying their best to boost the nation's share from the current four percent share in the international apparel and garments market which has a global turnover of 220 billion US dollars. This is being done by means of quality improvement, product diversification, image enhancement and significantly contributing towards social fields.

Fibre2fashion News Desk - India

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