With the export target of US $ 50 billion of the apparel sector by 2021 looming large, garment accessories and packaging manufacturers have sought policy support from the Bangladesh Government, including low cost fund and incentives.
“The Bangladesh Government has set a target of earning US $ 50 billion from the apparel sector by 2021. As a backward linkage industry, we are contributing US $ 7.10 billion to the garment export earnings of the country. If the Government provides policy support and low cost funds to improve compliance in the sector, they will be able to contribute over US $ 12 billion by 2021.” – Abdul Kader Khan, President, Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA)
He made this observation during the recently-held four-day GARMENTECH Bangladesh 2019 expo held at the International Convention Center, Bashundhara in capital Dhaka.
Speaking on this occasion, President of Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) Shafiul Islam Mohiuddin said that the sector is helping exporters reduce their lead time by providing accessories and packaging products in a short time. “In addition to supplying packaging products to local exporters, the sector is also exporting their products directly and has become self reliant,” added Mohiuddin.
In response to the observations made by the stakeholders, Industries Minister Nurul Majid Mahmud Humayun reportedly assured that his Government would provide all-out support for the sector.
“There is a huge opportunity to generate employment in the apparel and garment accessories and packaging sector,” said Industries Minister Nurul Majid Mahmud Humayun, adding that he plans to sit with all the stakeholders and come up with a solution to resolve the challenges the sector is facing.