The government’s all-round efforts have boosted the country’s economic growth over the past few three years. As a consequence of some pragmatic measures taken by the government, Bangladesh has seen a sharp rise in export earning.
According to a report published in this daily on Monday, in the first month of the current fiscal, July, some 71,243 containers were exported through the port. The amount was 58,678 at the same period of last year.
According to several garment exporters, the demand for readymade garment (RMG) products has suddenly increased in Europe and America as the Covid situation have improved in those countries. Hence, the export-oriented factories in Bangladesh have received a plenty of orders for the coming winter and Christmas.
Production of more diversified
apparel products can help
boost the sector
Holistic approach is needed to be taken by the government to maintain stability in the apparel industry which will in turn spike our export earnings even more.
Consistent efforts from all concerned sides are needed to negotiate with international buyers and communities to upsurge the prices of the garment items exported from Bangladesh. We know that the major export destinations are still in lockdown, which consequently has kept the demand for the apparel items at a lower level. Therefore, government should increase the loan repayment period in the apparel businesses.
Production of more diversified apparel products can certainly help boost the sector. Last but not least, the Central Bank should give deferred payment facilities to manufacturers so that they can run the business more efficiently during this crisis period.