Textile sector in Bangladesh is booming
Textile sector booming
Says FBCCI chief at the launch of textile machinery fair
The textile sector is gradually becoming an important segment in the country where the primary textile millers have so far invested around 3 billion euros, Kazi Akram Uddin Ahmed, president of the Federation of Bangladesh Chambers of Commerce and Industry said yesterday.
The use of modern technology in the sector will improve products' quality, enhance competitiveness and reduce production costs, he said.
Ahmed spoke at the launch of the Dhaka International Textile and Garments Machinery Exhibition at Bangabandhu International Conference Centre in the capital.
Around 850 companies from 31 countries are exhibiting modern apparel machinery occupying 1,050 booths at the four-day show that began with a call to introduce latest technology in the booming garment industry.
Bangladesh Textile Mills Association (BTMA) is organising the show in association with Chan Chao International Co Ltd and Yorkers Trade & Marketing Service Company Ltd.
Local textile mills now meet 80-85 percent of knit and 35-40 percent of woven garments requirements of the RMG sector, said Jahangir Alamin, president of BTMA.
Bangladesh has the potential to raise RMG export to $40 billion by 2020 as global wholesale buyers now count the country as a preferred source for apparel supply, he said.
“We have to harness and materialise this potential into reality through coordinated efforts from all concerned of the private as well as the public sector.”
Local entrepreneurs will get an excellent opportunity to have a glimpse of the variety of latest machinery and the entire supply chain, including spinning, weaving, knitting, dyeing, and printing and washing, at the fair, he said.
Alamin urged local entrepreneurs to visit the fair to find out the most appropriate technology that will help them achieving competitive edges in the global market.
Bangladesh earned $20 billion from export of textiles in 2011-12 and around five million workers, mostly women, are now working in the industry.
The fair will remain open from 12 noon to 8 pm without any entry fee.