Munshi Opens Garmentech Expo
Garment makers say the sector is in dire straits
Commerce Minister Tipu Munshi MP on Wednesday pleaded for bank loans at a lower interest rate for garment manufacturers and exporters of the country so that Bangladesh can retain its position as the world's second largest garment exporters of the world after China.
Wishing growth of accessories for garment industry he said: "West Bengal and Myanmar are the potential markets for the accessories as they have started setting up new readymade garment factories.
He was speaking as the chief guest at the event and declared the four-day-long international tradeshow of the four garment industry related sectors at the International Convention City, Bashundhara (ICCB) in Dhaka.
Nearly 450 companies from more than 24 countries are participating at the 19th edition of the tradeshows 'Garmentech Bangladesh 2020,' being held over 10 halls of ICCB, jointly organized by Zakaria Trade and Fair International , ASK Trade & Exhibitions Pvt Ltd and Bangladesh Garment Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA).
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Rubana Huq describing the sorry state of garment sector said, the entire sector is not doing great at this moment because fifty-nine garment factories have been shut and 25,900 workers have lost jobs in the last seven months and our growth stood at negative 7.64 percent.
Most of the factories which were closed one by one were small and medium enterprises and they failed to maintain compliance strictly and pay their workers under the new wage structure" she added.
Readymade garment industry is passing a hard time with many challenges such as- a deficit of image, the downward trend of price, deficiency of Research and Development, inefficiency, wastage, lack of planning- all add up to the basket of challenges, she opined.
Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) President Md. Abdul Kader Khan, BGAPMEA Advisor Rafez Alam Chowdhury, ASK Trade & Exhibitions Pvt Ltd Director Nanda Gopal K and Zakaria Trade & Fair International MD Tipu Sultan Bhuyian also spoke on the occasion.
Garmentech Bangladesh 2020 is showcasing the latest in Sewing, Knitting, embroidery, Laundry, Finishing, Dyeing, CAD/CAM, Printing, Cutting, Spreading machinery from leading companies from across the world. Technology solutions on display at the show is addressing the pressing concerns of the industry viz., Safety, Compliance, Productivity, Efficiency, Value-Addition.
Into its 11th edition International Yarn & Fabrics Sourcing Fair has the latest collection of natural and synthetic yarn and fabric and its blends both for woven and knit sectors being showcased by overseas companies.
11th edition of GAP Expo-2020 Co-organized with the Bangladesh Garment Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA) have largest collection of garment accessories and packaging used by the RMG industry showcased by leading companies from Bangladesh as well as from overseas. Companies are showcasing Garment Accessories, Packaging and related machinery including Labels, Zippers, Tags, Tapes, Thread, Ribbon, Buttons, Rivets, Laces, hooks, Transfer Film, paper, ink etc., Concurrent with PACKTECH Bangladesh showcasing Packaging & Corrugation Technology.