Industries Minister Amir Hossain Amu on Wednesday said introduction of technical renovation and new production technology is the key to further enhance the competitiveness of textile and apparel industry in Bangladesh.
“Bangladesh is gradually emerging as a very important destination of quality textile and apparel products for global buyers,” he said emphasizing the introduction of technical renovation and newer production technology for further boosting the production and improving the quality.
The Industries Minister was addressing the inaugural session of the four-day 15thTextech Bangladesh 2014 International Expo in the city.
Korean Ambassador in Dhaka Lee Yun-young, BGMEA President M Atiqul Islam, BKMEA first vice president Mohammad Hatem, President of BGFFMEA Alhaj M Harun-Ur-Rashid and Group Managing Director, CEMS-Global USA & Asia Pacific Meherun N Islam also spoke on the occasion.
Amu mentioned that Bangladesh bagged US$ 30.17 billion from its overseas trade in the just-concluded fiscal year 2013-14, out of which apparel sector contributed US$ 24.49 billion.
In the fiscal year 2012-2013, the total volume of Bangladesh’s export was US$ 27.01 billion, out of which apparel sector, including knitwear; woven and home textile contributed US$ 21.51 billion.
The Industries Minister also emphasized fruitful discussions among the foreign exhibitors and local industry-owners with a view to attracting more foreign direct investment or joint-ventures in the country highly potential textile and RMG industry.
Some 500 foreign manufacturing companies from 10 different countries around the world are participating in the exhibition with their latest technologies and innovations in the field of textile and RMG sector.
Bangladesh is the second largest apparel exporter in the world. Readymade Garments (RMG) is the main source of its export earning. The Textile & Garment industry of Bangladesh holds the record for having a continual and steady export growth.
Amu stresses new tech in textiles, RMG