Direct export of Bangladesh garments accessories items have been increased by 66.67 percent year-on-year to $1 billion in the last fiscal year as per the information of Bangladesh Garment Accessories & Packaging Manufacturing & Exporters Association (BGAPMEA). However the association also has informed that if indirect export is considered Bangladesh’s accessories industry is providing about $6.7 billion export support to current export oriented apparel industry. The information suggests that besides supporting local demand, now Bangladesh has turned into a major source for garment accessories for other garment making countries as well. Importers of Bangladeshi garment accessories are mainly Hong Kong and China. Bangladesh is now a lucrative source of such items, with spiraling demand coming from international buyers of many garment-making nations.
Meanwhile garment accessories and packaging (GAP) manufacturers urged the government to declare garment accessories and packaging products as the product of the year for 2019. The manufacturers have called the government to provide them with long term policy support including cash incentives and equal corporate tax, low interest loan for the backward linkage industry to enlarge direct export.
Abdul Kader Khan president, BGAPMEA said, “Bangladesh has been producing lion share of the accessories while only 5 to 10 percent of the items still need to be imported from China.”
“Now the total investment in the accessories making sector is over Tk. 30,000 crore. Number of workers in this sub-sector is 4.5 lakh and it plays a vital role for the garment sector”, Kader Khan added.
“I hope government will support to cash incentives, corporate tax, and source tax for the next five years”, BGMEA President Siddiqur Rahman said. “It is one of the major parts of our Textile Industry”, he added.
Abdus Salam Murshedy, President, EAB said, “Accessories and packaging goods are the heart of apparel industry. I think if government provides financial support for this sector, they will be able to export more to the international market”.
“The prospect of direct accessories export is very bright”, said Syed Saiful Islam Khan, Deputy General Manager, Montrims Ltd. “Price is our main challenges due to competitive market”, he added.
According to BGAPMEA, local manufacturers of Bangladesh have been exporting the integral parts of apparel items to Vietnam, Cambodia, Myanmar, Sri Lanka, South Africa and Malaysia. Accessories like buttons, zippers, labels, price tags and washing instructions are used in making finished garment products. At present, nearly 1,600 factories are producing the accessories. Some are directly exporting to other countries.
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