Ensuring compliant industries and quality products can strengthen the export prospects for Bangladesh in the US and EU markets, said speakers at a seminar in the capital on Monday.
They made the remarks at the seminar on’ Promotion and strengthening of export prospects for Bangladesh-made products in the US and EU markets’ organised by Sourcing at MAGIC, an organisation which organises North America’s largest sourcing event.
Stressing the business opportunities in the US for Bangladesh’s apparel, shoe and handicraft products, the speakers said there were a number of issues that were causing US buyers to diversify their sourcing to alternative potential markets.
Speaking at the programme, Export Promotion Bureau of Bangladesh vice-chairman Shubhashish Bose, said Sourcing at MAGIC had brought an opportunity for Bangladeshi products to show their competitiveness in the US.
He described the MAGIC-organised apparel trade show as a way to promote anew Bangladesh’s export products abroad.
Although the state-run EPB is responsible for export promotion, the country’s export is not up to the mark, he observed.
Though Bangladesh exports to 192 countries, the country is depending mainly only on six products, said Shubhashish, emphasising on products and markets diversification.
‘To achieve the country’s export target of $28 billion for the current financial year, we have no alternative to diversify both the products and destinations’, he said.
Shubhashish said the export of Bangladesh was suffering due to recession in the countries of export destinations. He called upon the organisers to extend support for skill development of the people of different sectors including RMG.
Bangladesh Garment Manufacturers and Exporters Association president Md Atiqul Islam said the BGMEA had taken steps to maintain service books and it would become mandatory for each and every factory owners.
The association will prepare a database of all 4,000 RMG industrial units of the country where skilled, semi-skilled and unskilled workers’ list will be kept, he said.
The BGMEA chief said it was possible that Bangladesh’s apparel exports would double by 2015 and nearly triple in 10 years as it had many socially compliant factories.
Sourcing at MAGIC director of International Business Development Bob Berg presented the keynote paper at the seminar and said Bangladesh could get vast export orders from the US apparel markets as the buyers were diversifying sourcing instead of largely depending on China.
High labour costs, shortage of labour, continual devaluation of currency and rising costs of electricity, environmental requirements and new safety laws are among the major concerns of US buyers with China, he said.
Bangladesh Handicrafts Manufacturers and Exporters Association president SU Haider, Bangladesh Knitwear Manufacturers and Exporters Association vice-president Mohammad Hatem also spoke, among others.
-With New Age input
