Bangladesh garment exports could double

Textiles are Bangladesh’s biggest export, earning the country around $9 billion annually. The sector employs 2.2 million people, mostly women. “It is our target to increase the garment exports from the existing $9 billion a year to $18 billion,” said Anwar-ul-Alam Chowdhury Parvez, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

“It does not look impossible as the country’s interim government is focused to achieve higher economic growth,” he told a news conference. The association has said before that exports could increase sharply if the conditions are right.

But currently the country is under a state of emergency, including a ban on all political activity. A military-backed interim government in charge of holding a free, fair and credible election, postponed a Jan 22 parliamentary vote following weeks of political violence that killed 45 people and injured hundreds.

Disruptive strikes called by rival political parties are common in Bangladesh. The government, which has vowed to restore industrial and social stability to allow greater economic growth, launched an anti-corruption drive which has resulted in more than 160 arrests of senior political figures.

Parvez said the government should make efforts to gain more access to European markets and push for the successful conclusion to a trade bill already under discussion with the United States, the country’s biggest export market.

He said US and European Union demand for garments is rising at 12 per cent a year. “While we continue to concentrate on these two big markets, we also have to look for other regions. Australia, Argentina and Japan are becoming more important to Bangladesh.” he added.

He said exports could also be boosted if the industry enforced agreements on minimum wages and working conditions. “To remain in focus in the export sector we have to ensure social compliance, which is now one of the major criteria for international buyers.“