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Domestic accessory industry plays vital role in achieving $100 billion RMG export target by 2030

BTJ Desk Report
Domestic accessory industry plays vital role in achieving $100 billion RMG export target by 2030

The domestic garment accessories and packaging industries is playing a vital role in achieving the target of exporting apparel items of worth $100 billion per annum by 2030, said the industry people.

They said it in the inauguration of four international trade shows on garment accessories, packaging, machinery and allied products on Wednesday at ICCB of the capital.

The four-day event includes the 20th edition of Garment Technology Show Bangladesh 2023 (GTB 2023), the 12th edition of International Garment Accessories and Packaging Expo 2023 (GAPEXPO 2023), the maiden edition of India Textile Trade Fair Bangladesh 2023 (ITTF Bangladesh 2023) and International Yarn & Fabrics Expo, organized jointly by the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), ASK Trade and Exhibition Pvt Limited, and South Gujarat Chamber of Commerce and Industry (SGCCI).

In his speech as chief guest, Shafiul Islam Mohiuddin, member of the parliament and former president of the BGMEA and the FBCCI, said that the target of exporting apparel goods worth $100 by 2030 is tough but achievable.

“Earlier, we rely on imports for packaging and accessories items but now the import substitute industries have developed and currently we are producing diversified accessories items including biodegradable, eco-friendly, and nature oriented,” he added.

He also said that the RMG sector of the country is now the safest destination of the world with the highest number of green factories, he added.

“To achieve a big target, it is necessary to establish a strong backward linkage industry. We need to increase capacity for both backward and forward industry,” he added saying that coordination is must with all apex bodies in this regard.

He also said that the issues related to the NBR must be addressed through discussion with all parties.

“We need to turn all challenges as opportunity. Our industry is a time-tested industry and we overcome challenges related quota and child labour,” he added saying that the industry will move forward with courage and resilient.

FBCCI President Jashim Uddin said that an industry can go apex if its backward linkage is strong.

“Like apparel sector, China is gradually phasing out from accessories sector too and due to geopolitical reason, the orders are being relocated from China. We have to grab these opportunities,” he added.

Regarding the gas issue, he said that they are agree to pay more if the are ensured of getting uninterrupted gas supply, he added.

BGMEA President Faruque Hassan said that the accessories and packaging sector has a significant role in the RMG export earnings as the RMG sector is now almost self-reliant in accessories and packaging.

“In our $42.61 billion export in the last fiscal year, the share of local accessories is nearly $7 billion and now they are able to supply almost 100% of our demand,” he added.

Due to the Ukraine-Russia war and global economic turmoil, 2023 will be challenging and there is no alternative to increase efficiency and skill to address the challenges, he added.

“If we fulfill our target of exporting $100 billion by 2030, the both sectors have to increase productivity,” he added.

Moazzem Hossain Moti, president of the BGAPMEA, said that the sector is supplying 100% of the demand of local apparel makers.

“To solve the issues related to the NBR, we need to establish a taskforce with BGMEA, BKMEA, BGAPMEA, FBCCI, commerce ministry, finance ministry, and industry ministry,” he added.

Zahir Uddin Haider, chairman of the standing committee on the expo, Nanda K Gopal, director of ASK Trade and other speakers also spoke at the event.

In the four-day event, 250 exhibitors in 650 stalls are showcasing cutting-edge sewing, finishing, embroidery machinery, state-of-art technology, spares and allied products, man-made, synthetic, natural and blended fabrics, dress materials, trims and embellishments and other products.


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