Apparel exports to fetch $17b in current fiscal

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Earnings from garment export are poised to cross US$17 billion in the current 2010-11 fiscal year, driven by soaring shipment to existing markets and surging orders from new nations, BGMEA president said Tuesday.

Abdus Salam Murshedy who heads the 4,500-member strong Bangladesh Garments Manufactures and Exporters Association (BGMEA) said apparel made in the country has wooed retailers in the emerging markets.

"The sector has achieved 100 per cent export target in new but potentially large markets such as Japan, South Africa and the Middle-Eastern countries," Murshedy told reporters in Dhaka after a book launching programme.

He said RMG exports clocked an impressive 42 per cent growth in the first half of the current fiscal year when it earned $8.0 billion. Earnings in the second half are set to hit $9.0 billion thanks to a spike in orders.

The BGMEA chief was speaking at a launching programme of a research book titled 'Market access guide to the new and emerging markets for Bangladesh woven garment manufacturers and exporters'.

The book is an outcome of a research conducted by the German International Cooperation (GIZ) - an aid arm of the German government.

The book highlights the prospects for enhancing apparel export to seven new and emerging markets namely Turkey, Japan, South Africa, Mexico, Brazil, South Korea and Australia.

Murshedy said labour shortages have emerged as the main threat to the garment industry's growth as many factories are sitting with piles of orders from global retailers but don't have enough workers to execute them.

He urged the authorities to make optimum use of the state-owned technical training centers, saying these institutes could churn out 200,000 skilled operators of knitting and woven machines a year.

German ambassador Mr. Holger Michael was the chief guest at the programme. Dr. Dietrich Stotz, programme co-coordinator of German international co-operation (GIZ), Faruk Hassan, vice president of BGMEA, Sarwat Ahmad and Manzur Morshad, representative of GIZ, were present.

The Financial Express, Wed, 09/02/2011

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