RMG export may cross $30b in next 3 years

http://www.thefinancialexpress-bd.com/more.php?news_id=159311&date=2011-12-14

RMG export may cross $30b in next 3 years
Batexpo receives $66.35m spot orders
FE report

Export earnings from country’s ready made garments (RMG) might cross $30 billion within next three calendar years, industry leaders said.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders at a post-BATEXPO-2011 press briefing at BGMEA conference room in the city on Tuesday said that the sector had the capability to earn more than $30 billion subject to having moral support and sufficient infrastructural development.

The audience in the press conference was also informed that the industry has received spot orders over $66.35 million worth of readymade garments in the BATEXPO-2011 which is $1.35 million higher than that of the last year’s fair. In the BATEXPO – 2010, the country had got spot orders worth $65.00 million.

“We are happy to inform that we have succeeded in completing the fair successfully with attractive spot orders worth $66.35 million which is more than our expectation despite the recession in the developed countries,” President of BGMEA, Shafiul Islam (Mohiuddin). said.

Mr Mohiuddin also said, “The number of visitors, including buyers and their representatives, in the fair was beyond our expectation.”

A total of 175 buyers and 3015 representatives of buyers have visited the fair which is also higher than that of last year.

“Besides, a total of 15,690 visitors have visited the fair. In the last year’s BATEXPO fair, a total of 14,990 visitors had visited the fair of which 162 were buyers and 2,870 were their representatives”, the press conference was told.

The BGMEA president also said, “A good number of prospective buyers from Latin from some other new countries have visited the fair and gave orders to some of our local garments owners.”

The BGMEA leaders have emphasized on skill development, infrastructural development and development of compliance for a sustainable growth of the industry.

The sector leaders have also informed that the buyers have emphasized on arranging such fair twice a year. Besides, they have also informed the audience that the buyers have demanded several overseas fashion shows for exposure of Bangladesh garment items.

Prime Minister Sheikh Hasina inaugurated the three-day BATEXPO-2011 fair arranged by BGMEA from December 10 to 12 and leader of the opposition Khaleda Zia attended the concluding ceremony.

Vice -president of BGMEA, Siddiqur Rahman, Director of BGMEA, Atiur Rahman Dipu, chairman and director of BGMEA, Md Nasir Uddin and others were present at the press conference.

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