Home / Knowledge / News / Textiles / Stable taka inspires BGMEA to aim for higher textile exports
Stable taka inspires BGMEA to aim for higher textile exports
26
Apr '08
In comparison to the strong currency of India and China, Bangladeshi taka is still weak, which is giving the nation an edge over these two competitors in gaining export orders that mainly include textiles.

As a result, the country now aims to take its apparel exports to a greater height, the target that Bangladesh Garments Manufacturers and Exporters Association (BGMEA) has set for its textile sector is, to earn revenue worth US $25 billion within next five years.

Fibre2fashion contacted Mr Anwarul Alam Chowdhury Parvez, President, (BGMEA), to gain more information about the initiatives the association is undertaking to achieve export target. Mr Parvez stated, “China and India are our major competitors, and we have proved our ability by beating them both in price and quality in some categories which will help us to sustain our export growth. We have already started receiving huge orders from buyers and are quite confident of achieving a rapid growth in future. “

Mr Parvez asserted, “The stability in taka has played a major role in giving Bangladesh a strong position, as the value of taka has been around 68.5 per dollar since middle of 2007. On the other hand, both Chinese yuan and Indian currency has witnessed a growth of over 8 percent. It is expected that these two nations will see a further boost in their currency, making exports expensive for foreign buyers.”

Mr Anwarul further divulged, “The Government needs to support textile sector by reducing the interest rates of banks and along with practicing Procedure of L.C (letter of credit) the bank should also take procedure of U.C.P.600, that will bring great relief to textile enterprises. “


Must ReadView All

Textiles | On 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search