How do you see RMG sector faring in Bangladesh and world over? What are the determinant factors? How shall be its growth pattern? Any concerns that you would like to voice?
As you all know RMG sector in Bangladesh is an emerging market for manufacturing garments products from low end to high end products; from cheap brands to exclusive reputed brands world over.
Bangladesh has now become an important destination for producing these garments with skilled labors and continuous development of new machinery and technology in this sector. The garment industry investors are willing to invest more in this sector as there will be always demand for garments from Bangladesh as, by now, the garments industries running for more than ten years have got trained workers. Also, competition wise garments factories are competing with neighboring countries like India, Pakistan, Vietnam, Sri Lanka and China, achieving buyers target price to meet up their requirements.
There will always be a growth for this sector every year. An upscale growth is seen. If the world recession especially in Europe & USA improves there will be good growth in the RMG sector for Bangladesh. The factors that will play a role for becoming the top most exporter of garments in Bangladesh would be continuous support by the Government sector to give uninterrupted energy to the factories with electricity & gas supply as well as keeping the country’s political & economic inflation in control. If these are kept constant then there will definitely be a growth pattern of 4-6 % in this sector.
My concern would be that we as an independent country in South East Asia should team up with the neighboring countries and work together to support each other and export to the European & US markets to perform better and have strong ties for better trade in export world over.
Published on: 06/07/2012
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.