Export markets need to be expanded: Bangladesh PM | Trade News Bangladesh
Home » News » Trade News » Export Markets Need To Be Expanded Bangladesh Pm

Export markets need to be expanded: Bangladesh PM

Share: 
      Newsletter

READ MORE ON Bangladesh RMG SectorBGMEATrade News Bangladesh

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.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Gujarat (India) gets new trade body for garment industry

A new trade body – Association of Apparel Manufacturers and Exporters of Gujarat (AAMEG) – has been formed in Gujarat, India, to address...

Lectra reports strong FY 2016 results

The fiscal 2016 results of Lectra, the technology solution provider, indicated strong growth in operational income and revenues. Lectra’s revenues for fiscal 2016...

EFI reports drop in revenue

Electronics For Imaging Inc., a world leader in customer-focused digital printing innovation, has announced its financial results for the first quarter of current...

Netherlands to explore textile business prospects in Albania

The Netherlands is looking to explore new textile business opportunities in Albania that would boost ties between the two countries. A delegation from...

Trade unions avert industrial disaster in Bangladesh

Trade unions, operating in Bangladesh, claimed to have averted a big industrial disaster after they supported more than 3,000 workers who refused to...

Sri Lankan garment industry’s working conditions upsets MEP

"If the European Union consumers knew the extremely abusive working conditions of the women who produce the clothes they buy from Sri Lanka,...

Tanneries in Bangladesh shifting; workers await job assurance

Bangladesh Government is pushing tanneries to move from national capital’s (Dhaka) Hazaribagh area to the suburbs of Savar. As the process is still...

Apparel Resources interviews Puma India’s Apparel Sourcing Head

Shirish Srivastava, Country Manager – Apparel Sourcing (India) at Puma Global Sourcing, Bangalore an ex-Niftian, a lean manufacturing expert and a black belt...

China’s Kingdom Holdings Limited seeks trading partner in Vietnam

“We are looking for trading partners in Vietnam,” said Eric Sun, International Commercial Director, Kingdom Holdings Limited, China while talking...

US cotton exports forecast to grow 53% in 2016-17

US Department of Agriculture (USDA) has predicted that country may note growth in its cotton exports in 2016-17. With an increase of 53...