BANGLADESH TO HAVE 26 MORE TEXTILE INDUSTRIES

• Bangladesh is one of the top country in the world which have the perfect and accurate raw materials for garments and textiles, i.e., Jute.

• This country has the principal source of foreign exchange earnings is the Export of textiles and garments.

• Bangladesh’s largest employment sector is Agriculture and Domestic consumption. In 2002, by the exports of different clothing, textiles and ready made garments, Bangladesh accounted for 77% total merchandise exports.

• As per the research, by 2013, around 4 million people, mostly women, worked in Bangladesh’s different textile, garments and ready-made garments companies.

• Bangladesh is the Second only country in the world (First is China), and the world’s Second largest apparel exporter. 60% of Bangladesh’s export contacts of western brands are European buyers and 40% are American buyers.

DIVA'NI-OPEN STORE

State Minister’s Decision to have 23 textile institutes:

• In Bangladesh, only 5% of textile industries are owned by different foreign investors.

• But most of the production in these companies are controlled by the local investors.

• In present Bangladesh have total 40 existing vocational textile industries, where a billion of workers get employment every year.

MANYAVAR INAUGURATES IT'S 341ST STOR

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EFFECT OF THE DECISION

After this huge decision, the state minister, Mr. Azam said that this would be a great profit to the country. Bangladesh earns a lion’s share of foreign exchange for the country. After the establishment of these 23 additional vocational textile industries with the 40 existing industries, the exports of garments, textiles and ready made garments would be double in next five years.

Economic Growth

• In a survey of Export Promotion Bureau (EPB), on July-April 2013, the garment exports from Bangladesh is increased by 15.39 percent to the US Dollar 19.97 billion.

• Bangladesh has done exports of $ 17.307 billion during the corresponding period of the previous fiscal year.

• In last fiscal year 2012-13, Bangladesh was exported $ 11.039 billion worth of woven garments. The worth of knitwear exported was $ 10.475 billion.

This huge step by the Bangladesh Government would take the country’s economic status in a high position. In the coming future, Bangladesh may be the no. 1 and the largest garment exporter in the world.

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