Bangladesh desires to grab a 10% share of global apparel markets by 2025 through exploring new markets and diversifying product baskets, said BGMEA President Faruque Hassan.
Currently, as the second largest apparel exporter, Bangladesh holds 6.2% share of the global market.
“Maintaining at least 15% annual growth, Bangladesh can grab 8% share by 2022,” he added saying that as the data for 2021 is yet to publish, Bangladesh hopefully grabbed 7% already.
He was speaking at a press conference regarding the upcoming “Made in Bangladesh Week 2022” on Saturday in the capital.
BGMEA President also said that new markets in Japan, India, Middle Eastern countries, and others would be the major export destinations for Bangladesh in the coming years, mentioning that purchase orders from Europe and North America have experienced a decline in the last few months.
He said that their production cost raised due to the ongoing power and energy crisis.
Considering the ongoing economic crisis, he urged the government to supply uninterrupted energy supply to the industry and reduce source tax from 1% to 0.5%.
In the press conference, Faruque declared the schedule of Made in Bangladesh Week which will start on November 12 in the capital and will end on November 18.