Entrepreneurs in the garments industry have set a target of USD 100 billion in exports by 2030. To that end, they are working to diversify products and expand exports to non-traditional markets.
Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), unveiled the plan at a five-star hotel in the capital on Tuesday (5 July) during a program on BGMEA’s new vision.
He said that garments exports in the just-concluded 2021-22 fiscal year amounted to 42.61 billion dollars. Achieving 50 billion dollars in exports on the 50th anniversary of independence is a great achievement.
He further said that various initiatives have been taken to enhance the capacity of the industry including product diversification, market diversification, skills development, innovation, and technology upgradation.
He said that factory owners were being encouraged to make high-value or exceptional garments in addition to ordinary garments to boost exports.
