Apparel industry targets $25b export, 2m more jobs in 5 years
Wednesday, 15 October 2008
Bangladesh apparel-industry leaders Tuesday unveiled an ambitious export target of $25 billion and additional 2.0 million jobs in next five years, keeping well in mind the impacts of possible long-term recession following the recent global financial flu, reports UNB.
"We have proved ourselves as a strong player in the apparel sector so far and have been branded among the best competitive RMG producers," President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwar-Ul-Alam Chowdhury told members of the Overseas Correspondents Association, Bangladesh (OCAB) at his office ahead of their mega-event BATEXPO 2008.
He said the ready-made garment (RMG) exports rose to $10.7 billion in the last fiscal, and the first month of present fiscal recorded a 71 per cent growth, which he said not only impressive but also reflects the industry's strength and capability.
Chowdhury, however, did not rule out any adverse impact of a possible longer recession due to the global economic recession, and urged the government policymakers to evolve immediate action plans to face the future challenges.
The BGMEA president said Bangladesh's competitors like India, Pakistan, Vietnam, Thailand and even China have already devalued their currencies. Without wasting time, the policymakers and economic experts should work out effective measures to protect the industry, the "backbone" of the national economy.
He said the BGMEA is making relentless effort to promote the market of the garment industry and are actively involved in international trade negotiations, both multilaterally and bilaterally.
Saying that they are aware of challenges and weakness of the industry, Chowdhury noted that the apparel sector is currently suffering from shortage of workers up to 25 per cent and mid-management staff. Currently 2.5 million workers, mostly female, are employed in the sector.
Chowdhury said the BGMEA has focussed on developing skills of the workers at seven technical training centres (TTC), and signed a deal with the government to use 23 more TTCs which will be operative by December 2008.
This programme would produce 15,000 trained workers annually. So far, 7,000 students have successfully completed their trainings and found jobs in different factories.
Besides, he said, some 5,000 students came out from the BGMEA Institute of Fashion and Technology, and are working for this sector. They are now planning to set up a private university on fashion design. An agreement was recently signed with London College of Fashion to promote and diversify the garment products.
"We have proved ourselves as a strong player in the apparel sector so far and have been branded among the best competitive RMG producers," President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwar-Ul-Alam Chowdhury told members of the Overseas Correspondents Association, Bangladesh (OCAB) at his office ahead of their mega-event BATEXPO 2008.
He said the ready-made garment (RMG) exports rose to $10.7 billion in the last fiscal, and the first month of present fiscal recorded a 71 per cent growth, which he said not only impressive but also reflects the industry's strength and capability.
Chowdhury, however, did not rule out any adverse impact of a possible longer recession due to the global economic recession, and urged the government policymakers to evolve immediate action plans to face the future challenges.
The BGMEA president said Bangladesh's competitors like India, Pakistan, Vietnam, Thailand and even China have already devalued their currencies. Without wasting time, the policymakers and economic experts should work out effective measures to protect the industry, the "backbone" of the national economy.
He said the BGMEA is making relentless effort to promote the market of the garment industry and are actively involved in international trade negotiations, both multilaterally and bilaterally.
Saying that they are aware of challenges and weakness of the industry, Chowdhury noted that the apparel sector is currently suffering from shortage of workers up to 25 per cent and mid-management staff. Currently 2.5 million workers, mostly female, are employed in the sector.
Chowdhury said the BGMEA has focussed on developing skills of the workers at seven technical training centres (TTC), and signed a deal with the government to use 23 more TTCs which will be operative by December 2008.
This programme would produce 15,000 trained workers annually. So far, 7,000 students have successfully completed their trainings and found jobs in different factories.
Besides, he said, some 5,000 students came out from the BGMEA Institute of Fashion and Technology, and are working for this sector. They are now planning to set up a private university on fashion design. An agreement was recently signed with London College of Fashion to promote and diversify the garment products.