Some 1,200 machinery manufacturing organizations from 37 countries are exhibiting their products
A four-day international textile and garment machinery exhibition began on Wednesday in the capital with an aim to attract both local and foreign investment in the textile and apparel sectors, and showcasing latest brands of textile machineries.
The exhibition styled “16th Dhaka International Textile and Garment Machinery Exhibition” (DTG 2019)’ is being held at the International Convention City Bashundhara (ICCB).
Bangladesh Textile Mills Association (BTMA), along with Hong Kong’s Yorkers Trade and Marketing Service Company(YTMSC) Ltd, are jointly organizing the largest expo of textile and garment industry machineries.
Some 1,200 machinery manufacturing organizations from 37 countries are exhibiting their products.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Shafiul Islam (Mohiuddin) inaugurated the event while BTMA president Mohammad Ali Khokon and YTMSC president Judy Wang were also present at the ceremony.
Mohiuddin said, “We need consistent assistance from the government with ensuring predictable business environment to expand our businesses. There should be policy-centric stability for longer period of 8-10 years to draw more investments.”
He also said the government should clear about the prices of gas and electricity to prevent confusions over the issue.
The FBCCI president also urged the banks to bring down interest rates to single digits.
Mohammad Ali Khokon said, “I request the government to take appropriate and adequate action with all seriousness to address all deficiencies for the greater interest of the country and the economy as a whole.”
He also said, “We expect the government would come forward with more supportive policy with incentive for the development of the garments and textile industries.”
Textile machinery manufacturers now regard Bangladesh as a hub for textile and clothing machinery sales, he remarked.
The BTMA president also said, “Over Tk70,000 crore has been invested in this sector, a record-high for a private sector industry.”
He also highlighted gas and electricity crisis as prime barrier to investment in the textile sector.
The countries participating the exhibition include Australia, Austria, Belgium, China, Czech Republic, Brazil, Croatia, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Italy, Japan, Korea, Malaysia, Netherlands, Pakistan, Poland, Portugal, Romania, Saudi Arabia, Singapore, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UK, UAE and USA.
The exhibition will remain open for all from 12 noon to 8 pm everyday, until the last day, January 12.