In spite of the good scope that readymade garment (RMG) accessories have in the global arena, their manufacturers in Bangladesh are yet to fully exploit the export potentials due to lack of support for government policy, alleged president of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) Rafez Alam Chowdhury.
According to Chowdhury, more than 1,400 RMG accessory factories in Bangladesh are currently catering to the global market as well as meeting 95 per cent of the local demands. However, the RMG accessory manufacturers are still facing hurdles in areas of infrastructure, customs and banking, which have somewhat stymied their growth as well as the exports.
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“We have targeted to mark the export earnings from garment accessories at US$ 12 billion by 2018, but it would not be achieved as we are not getting policy support from the government at the expected level,” Rafez said, adding, “We are making world-class accessories and giving support to the readymade garment (RMG), pharmaceuticals, ceramic and frozen food sectors to reduce their lead time of export but we are not getting expected support.”
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According to the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association, out of the US $ 5.6 billion export earnings from the sector in the FY 2014-15, the direct export accounted for about US$ 1 billion. “The RMG sector has set a target of export at US$ 50 billion by 2021, on the 50th anniversary of Bangladesh, and to achieve the target the export earnings from garment accessories will have to be US$ 10 billion,” said the BGAPMEA president.
