Boosting competitiveness in textiles, RMG thru\\\' newer tech stressed

Industries Minister Amir Hossain Amu said Wednesday introduction of technical renovation and new production technology is the key to further enhance the competitiveness of textile and apparel industry in the country, reports UNB.
"Bangladesh is gradually emerging as a very important destination of quality textile and apparel products for global buyers," he said laid emphasis on the introduction of technical renovation and newer production technology for further boosting the production and improving the quality.
The industries minister was addressing the inaugural session of the four-day 15th Textech Bangladesh International Expo 2014 in the city.
Korean Ambassador to Bangladesh Lee Yun-young, BGMEA President M Atiqul Islam, BKMEA first vice president Mohammad Hatem and Group Managing Director of CEMS-Global USA & Asia Pacific Meherun N Islam also spoke on the occasion.
Amu said that Bangladesh bagged $30.17 billion from its overseas trade in the just-concluded fiscal year 2013-14, out of which apparel sector contributed US$ 24.49 billion.
In the fiscal year 2012-2013, the total volume of Bangladesh's export was $27.01 billion, out of which apparel sector, including knitwear; woven and home textile contributed $21.51 billion.
The industries minister also emphasised fruitful discussions among the foreign exhibitors and local industry-owners with a view to attracting more foreign direct investment or joint-ventures in the country highly potential textile and RMG industry.
Some 500 foreign manufacturing companies from 10 different countries around the world are participating in the exhibition with their latest technologies and innovations in the field of textile and RMG sector.