Bangladesh Commerce Minister Tipu Munshi says by 2024 $100b garment export possible!
As per the data of the Export Promotion Bureau, in the last fiscal year garment export fetched $30.61 billion, taking cue from this growth, the newly-appointed Commerce Minister Tipu Munshi claims that by 2021, at Bangladesh’s 50th anniversary of independence, “We will be able to export garment items worth $50 billion and will be able to export $100 billion worth of garment products by 2024 as the buyers are doubling their buying capacities,” stated confident Munshi, while inaugurating the 15th Dhaka International Yarn and Fabrics Show in Dhaka.
Standing at number two position in garment exports after China, Bangladesh is growing its export turnover exponentially YoY. The government of Bangladesh is developing 100 special economic zones across the country; both local and foreign investors are allowed to put up their factories. “The entrepreneurs need bank loans at lower interest rate for rapid expansion of the business,” said Munshi who feels that the expansion of apparel industries in northern regions of Bangladesh is need of the hour. Working towards developing the region, arrangements have been made to supply gas in the northern regions which will give boost to the expansion of the garmenting units.Bangladesh News Region