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Export markets need to be expanded: Bangladesh PM

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Sheikh Hasina, Prime Minister of Bangladesh

Image Courtesy: hindustantimes.com

Prime Minister of Bangladesh Sheikh Hasina has asked manufacturers to expand Bangladesh’s export market with diversified products worldwide and thereby increase export revenue. “We have to diversify our products and expand our market for boosting our export earnings alongside learning how to add value to products and increase the readymade garment (RMG) share,” she said while addressing a gathering at the recently concluded Dhaka Apparel Summit in Bangladesh.

At the event, Sheikh Hasina commented that the list of export items of the country is not that much long as it is majorly dependent on RMG, while the export destinations of Bangladeshi products are also restricted. She further urged the exporters to take necessary initiatives as the Government is ready to extend complete support so as to boost the export.

On Government’s drive to improve the working conditions in the RMG sector, she said a number of measures have been taken at the international level to make the RMG sector safe. Under the initiative, 3,869 factories have been inspected. “Among those, faults have been found in only 39 factories and they were shut down, and the remaining factories are being renovated to improve their safety,” the PM said. However, huge funds are needed for refurbishing and maintaining these factories. “Various brands and buyers can come forward to assist the factory owners, and the Government will provide its support,” added Sheikh Hasina.

Also ReadCommitment to compliance is key to Bangladesh: PM

Sheikh Hasina concluded the event with optimism by assuring the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders of providing necessary cooperation in achieving their export target and said that the power generation capacity would be increased to 24,000 megawatt by the year 2021, and an LNG terminal would also be set up to meet the growing demand of gas (power) in the industry while the work is underway to establish Special Economic Zones as well across the country.

 

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