Thanks to global retailers’ increasing work orders, Bangladesh now has the potential to touch US $ 100 billion in apparel exports by 2024!
Bangladesh’s new Commerce Minister Tipu Munshi reportedly maintained this while inaugurating an event in Dhaka recently.
“We stand second in the line of global apparel exporters. 81.23 per cent of our total exports are apparel items… We have immense potential for bagging more work orders. We (Government) will give special attention to the growth of this sector.” – Tipu Munshi, Commerce Minister, Bangladesh
The Commerce Minister was equally hopeful of reaching the apparel export goal to be achieved by 2021.
“By 2021, when Bangladesh will also celebrate its 50th anniversary, we will be able to export garment items worth US $ 50 billion. For further expansion of businesses, entrepreneurs need bank loans at lower interest rates.” – Tipu Munshi, Commerce Minister, Bangladesh
Underlining his government’s approach towards economic development of the country, the Commerce Minister said that the Government is developing 100 special economic zones across the country and local and foreign investors are allowed to invest in them and contribute to export receipts.