Garmentech Bangladesh 2011 kicks off
The apparel sector leader has called upon foreign entrepreneurs to invest in the backward linkage segment of the sector.
“Bangladesh’s backward linkage segment has tremendous growth prospect,” Abdus Salam Murshedy, president of Bangladesh Garment Manufacturers and Exporters Association, told the inaugural of an international trade fair that kicked off in Dhaka yesterday.
Industries Minister Dilip Barua opened the country’s largest apparel technology trade show, Garmentech Bangladesh 2011, at Bangabandhu International Conference Centre.
Modern and updated technology and machinery for the apparel industry from across the world are on display at the four-day event.
Zakaria Trade and Fair International and ASK Trade Exhibitions have jointly organised the 10th edition of the fair, in association with GTZ and BRAC Bank.
Pointing to the tremendous growth in apparel exports in the last six months, the minister assured the sector people of the government’s continued help to grab more global market share.
“The government support will continue,” he said.
“The sector brought over $12 billion last fiscal year. Alone in October 2010, the growth was 65 percent over the same month in 2009. The sector can fetch 35 billion dollar in the next couple of years if we get adequate gas, electricity supply, and have supportive transport and port facilities in place,” AK Azad, president of Federation of Bangladesh Chambers of Commerce and Industry, pointed out.
The top business leader also urged the government to improve law and order to facilitate economic activities. “We’re scared at the killings of businessmen in many places.”
He also urged the government to run Chittagong Port with only the port authority, instead of army.
BGMEA chief expects that RMG exports will cross $16 billion mark this fiscal year, if the current growth trend continues.
“We’ve already strengthened our position in the US market by outperforming Mexico. We’re adding more medium and high-value products to our export baskets to capture more global market share,” he said.
Zakaria Bhuiyan, chief executive of Zakaria Trade and Fair International, also spoke.
About 150 companies from 25 countries such as China, UK, USA, Turkey, Thailand, Hong Kong, Japan, South Korea, Malyasia and India are showcasing the latest technology and machinery for knitting, sewing, finishing, laundry, embroidery, printing and packaging at the fair.
Another fair, International Fabrics & Accessories Sourcing Fair 2011 (IFA Sourcing Fair), is taking place on the same premises. It is a platform for addressing the apparel fabrics and garment accessories sourcing needs of Bangladesh’s clothing and knitwear makers and exporters.
Latest fabric collections from domestic and overseas fabric makers and distributors such as special yarn, grey and processed woven and knitted fabrics, buttons, zippers, laces, hangers, labels, interlinings and badges are on display at the four-day event.
