Bangladesh can do better in the RMG industry: Minister of Commerce

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Bangladesh can perform better in the ready-made garment (RMG) industry. For a variety of reasons, foreign buyers are ordering such products from countries rather than China or Vietnam. Take the initiative to showcase Bangladeshi products to attract investors.

The minister said this while distributing commercially important person (CIP) cards in Dhaka. The government provided CIP cards to 138 domestic traders to contribute to exports. In addition, FBCCI’s 38 directors also received such cards in the trade category.

By 2024, an export target of $ 80 billion can be achieved with the help of traders and product diversification, he reportedly said in a Bangla media report.

Bangladesh can perform better in the ready-made garment (RMG) industry. For a variety of reasons, foreign buyers are ordering such products from countries rather than China or Vietnam. Take the initiative to showcase Bangladeshi products to attract investors.

Country exports have witnessed growth of about 30 percent in the last six months.

Jasim Udin, chairman of the Bangladesh Chamber of Commerce and Industry (FBCCI), said the main obstacle to business expansion was the lack of infrastructure, which was alleviated.

To make the economy sustainable, the government needs to provide more support to back-to-back traders, lower tariffs and raise other tariffs to protect domestic industries. The focus should be on innovation, product quality development, and skill development. You need to reduce the cost of doing business. The FBCCI president said that good governance must be followed.

He demanded that a categorized loan facility for industry owners be implemented immediately.

Fiber2Fashion News Desk (DS)

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Bangladesh can do better in the RMG industry: Minister of Commerce

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