B’desh RMG export alone cannot meet US $ 50 bn export target by 2021

 

 

Notwithstanding the positive performance, Bangladesh’s apparel exports in the financial year 2020-21 will fall short of the export target of US $ 50 billion by US $ 11 billion! This was as per an estimate by the country’s Textile and Jute Ministry.

As per reports, keeping the same in consideration, the Government has reportedly set an export target of US $ 51 billion from textile and clothing sector including RMG, packaging and accessories and home textile as export trend showed that US $ 50 billion target by FY21 would not be achieved alone from readymade garments.

In this backdrop, the country’s Textile and Jute Ministry recently held a meeting with the stakeholders including representatives from different Government agencies like Department of Textile, Bangladesh Textile Mills Corporation, private sector trade bodies like Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Textile Mills Association (BTMA), Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA) and Bangladesh Specialised Textile Mills & Powerloom Industries Association, to discuss and find out the bottlenecks and possible solutions to this issue.

 

 

 

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