The New Nation - Internet Edition

Staff Reporter

Readymade Garments (RMG) export is expected to reach US$11 billion in current Fiscal Year 2007-08, said President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwar-ul-Alam Chowdhury.

"Overcoming export downfall in the earlier few months in this fiscal year, the sector has come up with a vital escalation in the middle. Despite growing competition in coming days, we expect to cross US$ 11 billion export target in this year," he said.

However, in coming two to three years, RMG export revenue is expected to reach US$ 15 to 18 billion, he added.

He was addressing the inaugural ceremony of four-day long garments related machineries exhibition 'Garmentech Bangladesh-2008', started yesterday in the city at the Bangladesh China Friendship Conference Centre in the capital.

Over 200-machine manufacturing companies from 30 different countries, including the host country, are participating in the exhibition to showcase their latest products related to RMG sector.

Addressing as chief guest, BGMEA President said that the Bangladeshi RMG industries have to well equip themselves with latest mechanical technologies in order to cope with growing global challenges.

"Our business competitors, like India, China, Pakistan, Vietnam has adopted state-of-art technologies to enhance their productivity, ensure timely delivery and secure quality production in their RMG sector. To sustain our leading status as garment product exporters in coming days, we have to mechanize ourselves," said the BGMEA President.

On the occasion, he urged the machine manufacturers to set-up spare parts industries in Bangladesh. According to him, this would help both Bangladesh as well as the mother manufacturer company.

"As a number of automobile companies are successfully producing spare parts in Bangladesh for their mother companies, RMG machine manufacturers should also take the advantage," he added.

He also advised them to train local RMG workers to ensure maximum outcome from their latest equipment.

Terming Bangladesh as a major RMG machineries market, he asked the manufacturer companies to give special attention and compensations.

Supporting BGMEA President, President Bangladesh Knitwears Manufacturers and Exporters Association (BKMEA) Muhammad Fazlul Hoque advised multinational machine manufacturers to take advantage of Bangladeshi RMG machine market by relocating their industries.

Secretary General of Japan Bangladesh Chamber of Commerce and Industries (JBCCI) AKM Moazzem Hussain, Chairman Zakaria Trade and Fair International (ZTFI) Zakaria Bhuiya also attended the session.

Besides Bangladesh, companies from USA, EU, Canada, Singapore, China, Hong Kong, Japan, Taiwan, Korea, India and Malaysia have set-up their stalls in the fair.

Exhibition will remain open everyday from 11:00am to 7:00pm till January 15, 2008.