Refayet Ullah Mirdha
Top readymade garment (RMG) makers are optimistic about meeting the export target in the current fiscal year although exports of some other products from Bangladesh declined in July-December period.
Woven garment surpassed the export target by 2.45 percent, knitwear 2.16 percent, terry towel 10.96 percent and textile fabrics by 8.16 percent during the same period of the current fiscal year, according to data of Export Promotion Bureau (EPB).
Bangladesh exported woven garment worth $2.805 billion against the target of $2.738 billion, knitwear $3.240 billion against $3.172 billion, terry towel $66.39 million against $59.83 million and textile fabrics $41.63 million against the target of $38.49 million in July-December period.
But in case of others, particularly fashionable and fancy items, exports declined during the period.
In the six-month period exports of raw jute, handicrafts, jute goods, electronics, leather, frozen foods and ceramic products also declined to some extent due to the ongoing global recession, the EPB data said.
On the other hand, exports of the products like footwear, home textile, petroleum bi-products and computer services maintained a sustainable growth, but not above the target.
Shahadat Hossain Kiron, chairman of Dekko Group, said exports of RMG products maintained a surpassing trend, due to a shift of orders to Bangladesh from other countries like China.
“I think exports of RMG products will not face major setback from the global recession as orders are flowing in and Bangladesh mainly produces basic items,” Kiron said.
The export trend of RMG products shows that the target of exporting woven and knitwear worth $12.267 billion for fiscal year 2008-09 is quite achievable, he said.
Nazrul Islam Swapan, managing director of Nassa Group, said another reason for sustainable export growth even amid global financial meltdown is an increase in productivity.
“Many entrepreneurs are raising their production capacity setting up new machinery in their factories. So Bangladeshi RMG products are maintaining a good export growth,” Swapan said.
He said a good number of factories of the competing countries like China and Pakistan have already been shut down due to higher production cost, higher wages and ultimately caught by the global recession.
“The orders from those countries are coming to Bangladesh,” Swapan said.
Monjurul Hoque, MD of Minar Industries Ltd, one of the major knitwear exporting companies, said the knitting factories have already diversified their products and improved quality to attract more foreign buyers.
“I introduced at least seven new knitwear items over the last one year to remain competitive in the international market,” said Hoque.
He said RMG exports will increase manifold from March-April as many countries have lost buyers.
Courtesy: thedailystar.net
