Marking a substantial increase compared to fiscal year 2014-15, the contribution of garment accessories and packaging to the apparel export zoomed 9.28 per cent to US $ 6.12 billion in 2015-16 fiscal as against US $ 5.6 billion in the fiscal year 2014-15. According to industry insiders, the figures are expected to reach US $ 12 billion by 2018.
The accessories and packaging sector is considered as a strong backward linkage industry for Bangladesh’s apparel sector, the biggest export earner for the country. It saves foreign currency by providing accessories alongside helping to meet lead time.
“Bangladesh has production capacity to meet the local demand and even it can export directly, but the growth of earning from accessory exports depends on RMG export as we are shadow exporters,” reportedly said President of Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), Abdul Kader Khan, to a Bangladesh daily.
Adding to that, Abdus Salam Murshedy, President of Exporters Association of Bangladesh (EAB) averred, “The biggest advantage Bangladeshi apparel manufacturers enjoy is the availability of accessories in the country.” He mentioned that the country has a huge potential in exporting accessories. “I think the Government should come up with initiatives to help the manufactures to explore direct export market. If the Government provides support, the sector could be another export earner in near future as we are now self-sufficient in meeting local demands,” Murshedy elaborates.