Bangladeshi garment manufacturers aim to boost apparel exports to $100 billion by 2030 with improved access to gas and electricity and streamlined business regulations.
Industry experts believe that hitting the $100 billion export mark is feasible given the growing global demand for apparel and the stabilization of supply chains.
To achieve this goal, ensuring a reliable energy supply is crucial as numerous factories are currently operating below capacity due to gas and power shortages.
Mahmud Hasan Khan, head of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), highlighted the need for uninterrupted energy to support growth during the association’s annual general meeting.
Additionally, the BGMEA plans to collaborate with the government to simplify customs procedures and expedite export and import processes to boost Bangladesh’s competitiveness in the global supply chain.
Efforts to streamline auditing processes are also underway to enhance competitiveness, especially as Bangladesh transitions from the least developed country (LDC) status.
The government has earmarked Tk 20,000 crore to reopen shuttered factories, with the BGMEA assisting in identifying eligible production units for funding access.
During discussions, concerns were raised about problematic clauses in the Bangladesh National Building Code affecting many factories, prompting BGMEA leaders to pledge cooperation with the government in finding solutions.
