Dhaka apparel sector seeks relief
May 29th, 2011 - 1:59 pm ICT by IANSDhaka, May 29 (IANS) Bangladesh’s apparel industry has sought relief from the government, citing competitors, including India, that have bagged more export orders by reducing costs.
“China, India, and Pakistan have been attracting the foreign buyers by reducing the price of their stockpiled cotton and textile. India has already bagged 15 percent more orders from the buyers this year compared to last year,” Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said here Saturday.
He said the country’s garment products were losing both price and competitiveness as the buyers had gone for tougher bargaining and placed orders for much lower quantity of products in the February-March period compared to the corresponding period of 2010.
Apparel sector is Bangladesh’s highest money spinner that earned $12 billion last year.
It recently got the government to accept that there would be no foreign direct investment (FDI) in the sector and local entrepreneurship would be promoted.
Citing lack of skilled manpower as a major obstacle, Mohiuddin urged the government to prioritise human resource development in the upcoming national budget for fiscal 2011-12.
The country’s ready-made garment sector is 25 percent short of skilled manpower. As a result, the productivity in the sector is not of world standards, The Daily Star quoted Mohiuddin as saying.
India is both competitor and importer of Bangladeshi garments.
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Tags: apparel industry, apparel sector, bangladesh garment, bgmea, competitiveness, daily star, export orders, exporters association, fdi, foreign direct investment, garment manufacturers, garment products, garment sector, human resource development, india and pakistan, mohiuddin, money spinner, national budget, president of bangladesh, skilled manpower