RMG exports may upswing to $18bn

20 Mar '07
1 min read

RMG exports are expected to rise twofold to US $18 billion in coming three years.

Of Bangladesh's overall exports, apparel sector accounts for $9 billion every year. It provides employment to 2.2 million people, majority of them being ladies.

According to BGMEA President Anwar-Ul-Alam Chowdhury (Parvez), Bangladesh aims to raise RMG exports from $9 billion per annum currently to $18 billion per annum. With the interim Government striving to achieve stronger economic growth, this target appears attainable.

Chowdhury opined that Government must try to conclude a trade bill with US, which is the largest exporter of Bangladesh. It should also seek further access to European markets.

Major export markets of Bangladesh are US and EU, whereas other prospective markets are Australia, Japan and Argentina. RMG demand from US and EU is scaling up at 12 percent per year.

If RMG sector implements agreements on minimum wages and working conditions, exports can be enhanced.

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