Garment accessories makers fear missing export target this fiscal

Local apparel accessories and packaging makers might not achieve the target set for the fiscal year, hurt by last year's political unrest and global economic recession, industry leaders said.
"We exported $3.90 billion in ten months to April, but it is highly unlikely that we can meet the current fiscal's target of $ 5.00 billion," Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) president Rafez Alam Chowdhury said.
"The export figure might reach to $ 4.75 at the end of this financial year. The growth rate of this sector is above 10 per cent for the last couple of years. We are expecting to achieve the growth rate of 15 per cent this fiscal year, although target will be missed," he said.
Apparel accessories and packaging manufacturers earned $ 4.10 billion in FY 2012-13, $ 3.50 billion in FY 2011-12, $ 2.75 billion in FY 2010-11 and $ 1.8 billion in FY 2009-10, BGAPMEA data showed.
BGAPMEA president said: "We are now able to meet 95 per cent demand of readymade garment's accessories and packaging and other exporters also. The exporters are now easily getting this backward linkage support which was earlier imported."
Former vice president of BGAPMEA and current chairman of its standing committee for customs Abdul Kader Khan said the buyers today offer less order after the Rana Plaza tragedy than they did before.
Besides, high bank interest rate, political unrest and global recession have created a negative impact on the sector, he said
He also said: "We have the capacity to achieve the target but due to unfavourable situation we may fail to reach the target."
The backward linkage industry makes around 35 items including button, carton, package, elastic, drawstring, embroidery, interlining, label, padding, poly bag, sewing thread, zipper, plastic items, back board, neck board, gum tap, bar code and so on.
The country's apparel accessories and packaging makers directly export only 15 per cent of the industry's total products and the rest 85 per cent are exported with other items like garments, frozen foods, pharmaceuticals etc.