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Garment export earnings for FY 11 to exceed $17bn
10 Feb '11
2 min read
Bangladesh Garments Manufactures and Exporters Association (BGMEA) President, Abdus Salam Murshedy recently stated that, owing to the rise in exports to existing buyers and large number of new orders flowing in from new markets, the garment export revenues for the current 2010-11 financial year are definite to cross US $17 billion.
Murshedy who successfully leads the BGMEA with 4,500 members, said that the apparels made in Bangladesh have enticed the retailers in the upcoming markets. The apparel industry of the country has fully attained its export target in the new but prospectively larger markets like South Africa, Japan and Middle-East countries.
He further stated that, the sector's exports registered a robust growth of 42 percent during the initial six months of the current fiscal when its revenues touched eight billion dollars. On account of the soaring orders, the earnings for the other half of the year are likely to rise up to nine billion dollar.
Murshedy revealed the above facts, while speaking at launching ceremony of a research book titled 'Market access guide to the new and emerging markets for Bangladesh woven garment manufacturers and exporters', which is the result of a detailed research carried out by the German International Cooperation (GIZ) , which serves the German government.
The book underlines the potentiality of augmenting the apparel exports from Bangladesh to seven new and upcoming markets including South Africa, Turkey, Mexico, Japan, South Korea, Australia and Brazil.
The official, further, stated that labour scarcity, today, has emerged as a major intimidation to the growth of the garment industry. In spite of that, many factories are having several overseas orders which they are not being able to deliver owing to dearth of workers.
Murshedy has thus appealed the authorities to utilize the state-run technical training institutes to their fullest, as these institutes have a calibre to produce two lakh skilled operators of knitting and woven machines each year.
Murshedy who successfully leads the BGMEA with 4,500 members, said that the apparels made in Bangladesh have enticed the retailers in the upcoming markets. The apparel industry of the country has fully attained its export target in the new but prospectively larger markets like South Africa, Japan and Middle-East countries.
He further stated that, the sector's exports registered a robust growth of 42 percent during the initial six months of the current fiscal when its revenues touched eight billion dollars. On account of the soaring orders, the earnings for the other half of the year are likely to rise up to nine billion dollar.
Murshedy revealed the above facts, while speaking at launching ceremony of a research book titled 'Market access guide to the new and emerging markets for Bangladesh woven garment manufacturers and exporters', which is the result of a detailed research carried out by the German International Cooperation (GIZ) , which serves the German government.
The book underlines the potentiality of augmenting the apparel exports from Bangladesh to seven new and upcoming markets including South Africa, Turkey, Mexico, Japan, South Korea, Australia and Brazil.
The official, further, stated that labour scarcity, today, has emerged as a major intimidation to the growth of the garment industry. In spite of that, many factories are having several overseas orders which they are not being able to deliver owing to dearth of workers.
Murshedy has thus appealed the authorities to utilize the state-run technical training institutes to their fullest, as these institutes have a calibre to produce two lakh skilled operators of knitting and woven machines each year.
Fibre2fashion News Desk - India
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