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. “


Interviews View All

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Joachim Maier,

Joachim Maier

Switzerland-based Uster Technologies AG is the leading high technology...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search