The New Nation - Internet Edition

SOME countries are categorised as "Developed" mainly on the basis of an assessment of the sizes of the economies and the overall growth rates per annum. In the second category are the 'Developing Countries," that have augmented the growth rates of their economies. The third category of countries are termed as "Least Developed "(LDCs), where poverty is widespread with limited availability of resources. The economy of Bangladesh remains not only poor but also awaits diversification. The farm sector, that produces edible products, has literally started failing to optimise the use of manpower and that due to shortage of farm inputs. The secondary sector of the economy awaits care for effective diversification.

The garment manufacturing sector appears to be the major plinth on which investments and earnings have in recent years been augmented. The ultimate expansion and growth of the garment manufacturing sector can be achieved by obtaining increased market share in developed countries. The importers of garment products offered until recently preferential treatment to Bangladesh in business deals. It has since been withdrawn and the exporters of finished garment of Bangladesh are facing tough competition. That being so, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has started sending commercial delegations to countries including the USA and projecting the quality of finished garment and the competitive prices thereof. The move is commendable and official agencies, including diplomatic missions, in export markets should offer necessary support to its delegations.

As reported in the press, an eight-member delegation of the BGMEA exchanged views with six congressmen of the USA who have introduced a Bill on New Partnership for Development in the US House of Representatives. The ultimate end of the Bangladesh delegation is to retain the market share in the USA. The members of the Bangladesh delegation also exchanged views with members of the American Federation of Labour, work on the need for expansion of employment opportunities and fulfilment of the obligations of employers via-a-vis the right to work and the payment of due wages.

The new bill presented in the US Congress, if passed, may enlist Bangladesh as a country having preferential treatment and help the growth of partnership for development. But Bangladesh is facing resistance. The market share in the USA may be retained by Bangladesh Garment Manufacturers and Exporters Association (BGMEA) if Bangladesh is included. The government of Bangladesh and its diplomatic missions have to note the prevailing conditions in the foreign markets, including the USA and work in support of BGMEA for augmenting export earnings. The earnings may be used for upgrading manufacturing units in the garment sector and also for diversifying investment in other sectors and sub-sectors of the economy.