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BGMEA targets $100b exports by 2030

Staff Correspondent
05 Jul 2022 17:12:49 | Update: 05 Jul 2022 18:18:36
BGMEA targets $100b exports by 2030
File photo shows garment employees working in a sewing section of the Fakhruddin Textile Mills Limited in Gazipur, Bangladesh — Reuters

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has set a target to earn $100 billion through exporting apparel goods by 2030.

The association also set another target to make 80 per cent factories eco-friendly and green certified within the time frame.

— Courtesy Photo

The announcement came in a programme titled ‘BGMEA Sustainability Strategic Vision: 2030’ held in Dhaka on Tuesday.

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Jatiya Sangsad Speaker Shirin Sharmin Chaudhury was present as the chief guest at the programme where she also unveiled the new logo of the association.

Former BGMEA president Abdus Salam Murshedy, incumbent vice-presidents Md Shahidullah Azim and Miran Ali and directors were, among others, present on the occasion.

New logo of BGMEA

Earlier in 2014, the BGMEA announced $50 billion export earnings by 2021, but it was yet to reach the target.

In the immediate past 2021-22 fiscal year, Bangladesh’s overall export earnings increased to $52.08 billion, where the RMG sector, the largest contributor to the national exports, earned $42.61 billion.

The apparel sector insiders claimed that due to the Covid-19 pandemic and global political crisis, they failed to meet the target.

“We have made some strategic plans. After the end of the current year (2022), our export share in the global market will rise by 7 per cent and it will reach 10 per cent by 2025,” BGMEA President Faruque Hassan told the programme.