Finance Minister AMA Muhith claimed that there is no political instability in the country and what is happening now is terrorism.
He said Bangladesh has made greater economic progress in 2014 and is set to achieve better growth in 2015.
“But BNP Chairperson Khaleda Zia is trying to destroy it (the achievements),” Muhith told the inaugural function of a four-day 12th Dhaka International Textile and Garment Machinery (DTG) Exhibition.
“She (Khaleda) does not like the country to make progress. What she likes is to destroy the nation’s future. Her action is completely anti-state.”
He said BNP’s such “terrorist programme” has no public support.
BTMA President Tapan Chowdhury said readymade garment sector has emerged as main foreign currency earner for the country with more than 81% of total export volume of the country.
He said the textile mills are able to meet around 85% raw materials demand of knitwear factories and about 40% of woven garment factories in Bangladesh.
In the Expo, local entrepreneurs will get “an excellent opportunity to get knowledge about the industry’s latest machinery, technology and about the entire supply chain,” said Tapan.
According to him, the participating enterprises got around $200m worth spot business orders during the last year’s Expo.
He said the buyers now want to buy products every season and the makers need to change fashion every year considering demand.
BGMEA president Atiqul Islam said Bangladesh would have to convert fibre to fashion to achieve $50bn garment export target by 2021.
“There is a huge opportunity for textile industry as the county will need yarn and fabrics of $30bn to meet the $50bn export target,” he added.
The country’s RMG sector will need fabrics and yarns of $16bn to meet the $25bn export target in the current fiscal year, showed BGMEA data.
Of the demand, fabrics and yarn of $10bn will be met locally and $6bn will be imported.
Textiles and Jute Minister Imaj Uddin Pramanik and FBCCI President Kazi Akram Uddin Ahmed were also present as special guests.
BTMA, in association with Chan Chao International Company Limited and Yorkers Trade and Marketing Service Company Limited, Hong Kong has organised the four-day Expo at Bangabandhu International Conference Centre in the capital.
A total of 880 machinery companies from 33 countries are taking part in the event.
The companies include, among others, Barudan, Fong’s, Groz-Beckert, Jakob Muller, Karl Mayer, LML, Loepfe Graf and Lonati.
The fair remains open from 12 noon to 8:00 pm every day.
