RMG exports go up slightly in November28 November 2022
Staff Reporter :
Apparel exports increased slightly in November, despite the industry is facing manifold troubles caused by the Russia-Ukraine war, insiders said.
The troubles are gas and electricity crisis, slower in orders, increase in prices of raw materials.
The country readymade garment (RMG) shipment grew by 5.72 per cent year-on-year to $ 2 billion in first 20 days of November from $ 1.9 billion that was in the same period of the last year, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
The entrepreneurs of the sector projected that the export is likely to be $3.3 with 2 per cent growth at the end of the current month but the amount is around $370 million less than the previous month (October), if the current trend continues.
The exporters shipped apparel worth $ 3.68 billion in October.
Mohammad Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told The New Nation, "Enquiries have increased slightly. But the buyers are not placing orders. Such situation will continue till next January."
"The troubles faced by the apparel sector are mostly bank related. We need support from the Bangladesh Bank to solve the problemes," he added.
The industry, however, is emphasizing on technologies to enhance competitiveness and transparency, the entrepreneurs said.
In a meeting with a delegation of a UK Company on Sunday, BGMEA President Faruque Hassan said RMG industry is increasingly putting emphasis on technological up-gradation ranging from the manufacturing process to design development, productivity improvement, environmental sustainability, resource efficiency, quality enhancement to workers' well-being.
"We are getting prepared to meet the challenges of the fourth industrial revolution. By embracing technological advances and developing the skills of workers, we aim to turn the challenges into opportunities as technological upgradation will contribute to enhancing our industry's competitiveness in the coming days," he added.
Kris Van Broekhoven, CEO of the UK's ES3G, said, "We are delighted that the BGMEA is keen support new technologies that increase transparency in worker rights. Bangladesh has led the way with the Alliance, Accord and other initiatives, bringing a lot of investment in ESG to Bangladesh, which has the highest number of green garment factories in the world."
"With BGMEA's help, our technology can support increased transparency and better communication of worker treatment to retail buyers and brands and their own customers online and in-store," he added.