The New Nation, Bangladesh
NATION BUSINESS REPORT
Despite the current global recession, the ready made garment export from Bangladesh is likely to surge in the next year.
Anwar-ul-Alam Parvez, President of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA), countered the World Bank prediction and said, “The World Bank prediction is whimsical and unrealistic. The ongoing global economic recession will rather create opportunities for the country’s garment sector and the export will not decline as the bank predicted.”
At a press briefing organized at its office in Dhaka last week, the World Bank country director forecasted a decline in exports by 4.3 percentage points for the current financial year.
“The recession indicates both risks and opportunities for the RMG industry. Bangladesh’s lower-end basic garments have been forecast to be less affected than the high value items,” said Parvez.
According the BGMEA President, available data shows that in spite of the fact that world is going through recession, the graph of Bangladesh’s ready made garment exports will continue to move upward.
