According to Abdus Salam Murshedy, President of Bangladesh Garment Manufacturers and Exporters Association, the apparel sector can bring in over $20 billion to the country's economy within a span of three years if the country manages to improve its unstable infrastructure and extend policy support.
He mentioned about the spot orders worth $65 million that the country has grabbed in the BATEXPO this year. The three-day long textile and apparel fair held at the Dhaka's Bangabandhu International Conference Centre, concluded on November 27.
Around 55 percent more export orders were booked at the fair this year, as compared to last year's figure of $42 million.
Though, the country contributes not more than three percent to the world's apparel exports, the demand for domestic items is on an upsurge, Murshedy said.
As revealed by the data, RMG exports surged by over 37 percent during the July to October period this year, which is mainly attributed to the rise in global demand and surfacing of new markets.
He even emphasized that the hurdles coming in the way of infrastructure development should be eliminated, mainly by surmounting energy constrains like scanty power and gas supply, by improving the efficiency of Chittagong port and by slashing the bank lending rate, so as to boost the competitiveness of the garment industry.
Fibre2fashion News Desk-India
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