Four international trade exhibitions under the banner of GARMENTECH Bangladesh 2020 began in the capital, Dhaka, on Wednesday to showcase the latest apparel machinery, accessories, packaging and raw materials to attract local and foreign buyers.
The Bangladesh Garment Accessories & Packaging Manufacturers & Exporters Association, the Zakaria Trade & Fair International and the ASK Trade & Exhibitions Ltd organised the 19th edition of GARMENTECH Bangladesh at the International Convention City, Bashundhara in the capital.
The four-day GARMENTECH Bangladesh will end on January 18.
The four shows are international apparel machinery and allied products tradeshow, 11th edition of international yarn and fabrics sourcing fair, 11th edition of GAP Expo-2020 international garment accessories and packaging show concurrent with PACKTECH Bangladesh 2020 international expo on packaging and corrugation technology.
Commerce minister Tipu Munshi inaugurated the event.
Tipu Munshi said that the government would support the garment sector during its crisis period.
People connected with the sector should work in unison to revive the sector, he said.
He said that the garment equipment that was imported to the country only for exhibition purposes would be made duty free.
Bangladesh Garment Manufacturers and Exporters Association president Rubana Huq said that the RMG sector had been going through a crisis for last six months with negative growth.
All the organisations linked with the garment sector should place a coordinated proposal before the government to restore the sector, she said.
‘We should improve our research and development to find out exact problems and the best solutions.’
Rubana said businesses were now running their affairs without proper business guidance and research, which would lead them to collapse.
BGAPMEA president Abdul Kader Khan demanded export incentives as the value addition of the sector’s production exceeded 40 per cent.
He said that the commerce ministry supported four sectors with the export readiness fund and garments’ accessories and packaging sector should be included in the list.
Kader also urged the government to include the BGAPMEA in the proposed CIP (Trade) Policy.
Around 450 exhibitors from more than 25 countries are participating in the trade shows.
In last financial year 2018-19, the total export earnings of the readymade garment sector stood at $34.13 billion. Of the earnings, the contribution of accessories and packaging sector was $7.5 billion.
Officials said that exports showed negative growth for four straight months in the current fiscal year of 2019-20, which indicated an alarming situation.
More than 200 garment factories were shut in six months in this fiscal year after reporting continued losses in their business.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Apparel