$50b RMG export target by 2021 achievable: Minister

Planning Minister AHM Mustafa Kamal said that though it was a challenging task but  not impossible to achieve the target of exporting readymade garment amounting to $50 billion by 2021. The minister made this remark while addressing as the chief guest at seminar titled’ Financing Apparel Growth’ at Hotel Radisson Blue Bay View in Chittagong yesterday (Friday). “For every country there is a time and it’s time for Bangladesh. We have all potentials to double our apparel export in six years and reach the target of $50 billion by 2021. Starting in 1970 RMG industry only amounted to $1200. However, the export now stands at $ 25 billion,” said the Planning Minister.
“Cost of doing business in Bangladesh is lower than other countries. Apart from this, Bangladesh has the edge of a huge workforce,” said the former ICC president. Urging the foreign investors to come to Bangladesh, Kamal said, “The foreign investors only become lease-holder if they invest in Vietnam. However, the foreign investors are always welcome since they become the landowners investing in Bangladesh.”
Referring to the workers’ safety, the minister said, “It is not expected that the workers die unnatural deaths. We must stop the preventive deaths. We must ensure that there is no death in the apparel sector which is the second largest apparel country in the world,” added Kamal.           
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organised the seminar as part of hosting a three-day Bangladesh Apparel and Safety Expo-2015. Mamun Rashid, chairman, Financial Excellence Limited, presented the key note paper and moderated the seminar.
“Bangladesh Bank is always proactive for lending all necessary support and cooperation to the apparel sector of the country. This is a big challenge for   the RMG sector to reach the target of $ 50 billion export by 2021,” said Ahsan Ullah, Executive Director of Bangladesh Bank.
“It is possible to reach the target. All the garment manufacturers and exporters need is adequate financing, support from the government and initiative from the entrepreneurs,” added Ahsan.  “We could achieve the target of exporting $ 50 billion by 2021 provided we work together. We have to remember that when an investor is out of the market, it renders many people jobless. We have so many entrepreneurs engaged in manufacturing and exporting apparel products but they do not have the money required,” said BGMEA President Md Atiqul Islam.
Referring to infrastructure constraints, the BGMEA president said, “The buyers feel reluctant to place order in Bangladesh as only 60 per cent buildings of the country’s RMG industry are tailor made for manufacturing. However, rest 40 per cent buildings are shared ones.”  
“We are deemed by many as the villains in the apparel sector as we are revealing the flaws of the apparel sector. However, we are committed to retrieve the compliant image of Bangladesh in the world. It is the failure of the government for which necessitated the arrival of Accord and Alliance, the two separate platforms of the American-Canadian and EU retailers. We are inspecting whether the industrial unit is build in compliance with Bangladesh National Building Code (BNBC),” said Mesbah Robin, managing director of the Alliance’s Dhaka office.

$50b RMG export target by 2021 achievable: Minister

Planning Minister AHM Mustafa Kamal said that though it was a challenging task but not impossible to achieve the target of exporting readymade garment amounting to $50 billion by 2021. The minister made this remark while addressing as the chief guest at seminar titled Financing Apparel Growth at Hotel Radisson Blue Bay View in Chittagong yesterday (Friday). For every country there is a time and its time for Bangladesh. We have all potentials to double our apparel export in six years and reach the target of $50 billion by 2021. Starting in 1970 RMG industry only amounted to $1200. However, the export now stands at $ 25 billion, said the Planning Minister. Cost of doing business in Bangladesh is lower than other countries. Apart from this, Bangladesh has the edge of a huge workforce, said the former ICC president. Urging the foreign investors to come to Bangladesh, Kamal said, The foreign investors only become lease-holder if they invest in Vietnam. However, the foreign investors are always welcome since they become the landowners investing in Bangladesh. Referring to the workers safety, the minister said, It is not expected that the workers die unnatural deaths. We must stop the preventive deaths. We must ensure that there is no death in the apparel sector which is the second largest apparel country in the world, added Kamal. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organised the seminar as part of hosting a three-day Bangladesh Apparel and Safety Expo-2015. Mamun Rashid, chairman, Financial Excellence Limited, presented the key note paper and moderated the seminar. Bangladesh Bank is always proactive for lending all necessary support and cooperation to the apparel sector of the country. This is a big challenge for the RMG sector to reach the target of $ 50 billion export by 2021, said Ahsan Ullah, Executive Director of Bangladesh Bank. It is possible to reach the target. All the garment manufacturers and exporters need is adequate financing, support from the government and initiative from the entrepreneurs, added Ahsan. We could achieve the target of exporting $ 50 billion by 2021 provided we work together. We have to remember that when an investor is out of the market, it renders many people jobless. We have so many entrepreneurs engaged in manufacturing and exporting apparel products but they do not have the money required, said BGMEA President Md Atiqul Islam. Referring to infrastructure constraints, the BGMEA president said, The buyers feel reluctant to place order in Bangladesh as only 60 per cent buildings of the countrys RMG industry are tailor made for manufacturing. However, rest 40 per cent buildings are shared ones. We are deemed by many as the villains in the apparel sector as we are revealing the flaws of the apparel sector. However, we are committed to retrieve the compliant image of Bangladesh in the world. It is the failure of the government for which necessitated the arrival of Accord and Alliance, the two separate platforms of the American-Canadian and EU retailers. We are inspecting whether the industrial unit is build in compliance with Bangladesh National Building Code (BNBC), said Mesbah Robin, managing director of the Alliances Dhaka office.