The apparel manufacturers want to capture 10% of the global apparel market by 2025, by exploring new markets and diversifying product baskets, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Saturday
Currently, as the second largest apparel exporter, Bangladesh holds a 6.2% share of the global market.
Maintaining at least 15% annual growth, Bangladesh can grab an 8% share by 2022, he also said, adding that as the data for 2021 was yet to be published, Bangladesh hopefully grabbed 7% already.
He was speaking at a press conference regarding the upcoming “Made in Bangladesh Week 2022” expo in the capital.
Usually, the World Trade Organization (WTO) publishes the data on global market shares of different merchandise, including apparel items at the end of September for the previous year.
The BGMEA president also said that new markets such as Japan, India, Middle Eastern countries and others will be the major export destinations for Bangladesh in the coming years.
Purchase orders from Europe and North America have experienced a decline in the last few months, he also said.
Regarding the ongoing energy crisis, Hassan said that their production costs have gone up amid the ongoing energy crisis and fuel price hikes.
He also said that every day, they were facing load-shedding for a significant time and during this period, they used diesel-based generators.
“But due to fuel price hikes, we have to dish out more money, which has increased our production costs. The generators' efficiency has also gone down due to long-term operations,” he added.
Considering the ongoing economic crisis, he urged the government to supply uninterrupted energy to the industry and reduce source tax from 1% to 0.5%.
In the press conference, Hassan declared the schedule of Made in Bangladesh Week, which will start on November 12 in the capital, and end on November 18.
“This will not only be significant for the garment industry but also showcase our achievements as a country,” said Faruque Hassan.
Prime Minister Sheikh Hasina will hopefully inaugurate the event as the chief guest on November 13 at Bangabandhu International Conference Center (BICC).
The major events of the Made in Bangladesh will be the 37th IAF World Fashion Convention, 3rd Dhaka Apparel Summit (November 14-16), Dhaka Apparel Exposition, Bangladesh Denim Expo (November 15-16), MIB Photography Award (November 18), NRB Award (November 16), Sustainable Leadership Award (November 17), and Sustainable Fashion and Innovation Award (November 16), Fashion Show (November 16).
Concurrently with the Made in Bangladesh Week, the Global Launching of BGMEA Innovation Centre will be held on November 18.
There will also be panel discussions, seminars, cultural programmes, and workshops at BGMEA University of Fashion and Technology (BUFT).
In response to the question of what image of Bangladesh this event will show, Hassan said that competitive labour, less lead time, compliant and safe factory, green factory, hassle-free port and shipment and many more.
On the sideline of the event, he told Dhaka Tribune that there is no child labour in any member factory.
“Small and non-member factories may have them. However, it is not BGMEA's responsibility to supervise, but the concerned department of the government,” he added.
Replying to a question, he also said that since the number of orders has decreased, growth in September, October and November is also likely to be negative.
On the issue of election-related instability, he expected all political parties to refrain from activities that harm business and the economy for the sake of the welfare of the country and its economy.
