Home Business Political stability key to achieving $37b export target: BGMEA

Political stability key to achieving $37b export target: BGMEA

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Achieving the $37 billion export target will not be a tough job and even the goal could be exceeded if gas and power supply remains smooth and there is no political instability and labour unrest, the BGMEA said on Friday.Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Siddiqur Rahman told daily sun that the success in achieving the export target will mainly depend on the apparel sector.“We faced severe image crisis after the Rana Plaza collapse, pushing down our export growth. But we have been able to regain our image through the factory inspections carried out by the Accord and Alliance. Confidence of buyers is also back, our export growth is more than 10 percent now and if everything goes normal, export growth will increase further next year” the BGMEA president said.He also urged the government to cut off illegal gas connections and limit the use of CNG to supply more fuel to the industrial units.“To graduate to a middle-income status within the stipulated timeframe, we will have to create more jobs, and the garment sector is such a sector that can create employments of both educated and illiterate manpower,” Siddiqur Rahman said.Infrastructure will develop gradually, but smooth gas and power supply is vital to spur export growth, he said.He also stressed the need for cash incentives and a congenial business environment to help the exporters meet the export target.A H Aslam Sunny, first vice president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and also the managing director of Abanti Color Tex Ltd., told daily sun that achieving $37 billion export target is possible, but political stability must prevail in the country.He also said the recent terror attacks and killing of foreigners would affect the garment sector to some extent as the buyers are closely observing the situation.Expressing satisfaction over the availability of single-digit credit for the investors, Aslam Sunny said a permanent, smooth and congenial environment for production and supply are what the exporters need now to flourish further.Bangladesh Food Exporters Association President Md Amzad Hossain said achieving export target will be hard if the government fails to prevent reoccurrence of militant or terrorist attacks.