BGAPMEA renews call for policy support
FE Report | Saturday, 27 January 2018
Garments accessories and packaging manufacturers on Friday reiterated its demand for policy support including cash incentive on export and low-cost funding for sustaining the sector's growth at desired level.
They also urged the government to extend its support for establishing a dedicated industrial zone and a modern laboratory to help achieve the export earnings' target of $50 billion from the country's apparel sector by 2021.
Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) made its demands at a seminar on "Innovated Technology in Printing and Packaging and the role of Garments Accessories sector in achieving US$ 50b export target of RMG within 2021".
The BGAPMEA organised the seminar on the sidelines of a four-day trade show on garment accessories and packaging products held at International Convention City Bashundhara (ICCB) in Dhaka.
Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority (BIDA), attended the seminar as the chief guest.
BGAPMEA president Abdul Kader Khan, its former president Rafez Alam Chowdhury, and vice president Mohammad Moazzem Hossain Moti also spoke on the occasion.
In his speech, Mr Aminul said the garments accessories and packaging sector is a highly promising one for its connection with many other sectors.
"The sector deserves huge support for ensuring its growth rate at desired level," he said.
He assured the accessories makers of taking necessary steps on his capacity. He also expressed his willingness to discuss the matter with the authorities concerned accordingly.
Speaking on the occasion, Mr Kader Khan said despite facing many challenges, the sector has been making a significant contribution to the country's economy.
"But we don't get required support from the government like other export-oriented sectors," he said.
The sector should get cash incentives on export and a significant cut in corporate tax, he added.
Accessories and packaging manufacturers earned $6.7 billion as direct and deemed export in the last fiscal year, he said, adding that the sector is vital for each of other export-oriented sectors.
Finance Minister AMA Muhith inaugurated the event on Wednesday.