RMG and allied sectors claim major share in National Export Trophy

Total 71 firms win National Export Trophy

Recently, the government awarded top exporters with the ‘National Export Trophy’ for the maximum foreign currency earner of the country in the 2018-19 financial year. And not surprisingly, the readymade garment (RMG) factories claimed a big share of the total list of 71 exporters.

The Commerce Ministry and Export Promotion Bureau (EPB) jointly organized the program at the Bangabandhu Bangladesh-China Friendship Exhibition Centre in Purbachal.

Rifat Garments Limited, a company of Ha-Meem Group has been named the top exporter of the country in FY 2018-19 for being the top exporter in the period. And as a special reward, Rifat Garments Limited got the ‘Bangabandhu Sheikh Mujib Export Trophy’ for earning the highest ($250 million) through exports and to inspire exporters to endeavor for more exports. Its shipment growth stood at 18.95%, year-on-year.

Other gold-winning textile and apparel factories are: Universal Jeans Ltd., Badsha Textiles, Zaber & Zubair Fabrics Ltd., GMS Composite Knitting Ltd., Envoy Textiles Ltd., Square Textiles and Noman Terry Towel Mills.

Sector-wise winners

In the woven garments sub-sector, Rifat Garments Ltd., AKM Knitwear Ltd. and Ananta Apparels Ltd.; received the award.

In the knitwear sub-sector, GMS Composite Ltd., Square Fashions Ltd. and Four H Fashions Ltd. received the award.

While in spinning sector, Badsha Textiles, Kallam Textiles LTD and Nice Cotton Ltd. received the award. While in textiles, Envoy Textile, Akiz Textile and Nice Denim Mills Limited. received Export Trophy.

In EPZ’s 100% Bangladeshi-owned readymade garments (knit and woven) category Universal Jeans Ltd. and Pacific Jeans Ltd. received the trophy.

In home textiles and specialized textiles category, Noman Terry Towel Mills and Zaber & Zubair Fabrics Ltd received the award.

While Fardin Accessories Ltd. and R. M. Interlinings Ltd. won the trophy in other products and services.

M&U Packaging Ltd., Montrims Ltd. and Uniglory Paper & Packaging Ltd. in packaging and accessories products.

While Square Textiles Ltd and Al-Salam Fabrics (Pvt.) Ltd. are receiving awards in the category reserved for exporters.

In total, 71 exporters won the National Export Trophy in the 2018-19 financial year in appreciation of their contribution to the country’s foreign trade through higher sales, the addition of new products and markets, and maintaining compliance in FY2018-19.

Besides the Gold category, top exporters were also recognized in silver (24) and bronze (18) categories.

At the event, Commerce Minister Tipu Munshi said, “Our exporters are playing a vital role in the economic growth of the country by way of investing and creating jobs.”

Tipu Munshi said the government has taken various steps to overcome the current economic crisis.

He said the government was relentlessly working to make the country economically strong and establish a dignified position in the world market.

After 2026, duty-free market access for Bangladesh as a least-developed country will not exist, according to the minister. “But opportunities never cease to exist. It is only necessary to find them and work together,” he said.

At the event, entrepreneurs called for creating a skilled workforce, encouraging research and innovation, and adding new products in order to enhance the country’s competitiveness.

Md Jashim Uddin, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), proposed refining the skills of workers to attain further economic progress.

Jashim said special attention should be given to the manufacturing and agriculture sectors for economic stability.

“Unnecessary expenditures and the import of luxury goods should be reduced.”

After the country’s graduation to a developing nation, the export sector, which is one of the largest job providers in the country, Bangladesh would face competition in terms of price and quality, according to the FBCCI chief.

“The backward linkage industry should be established to enhance value-addition,” he said.

AK Azad, Chairman and Chief Executive Officer of Ha-Meem Group said, “The key market of Bangladesh is Europe where 71% of customers have tightening their budgets. Which is affecting our exports. If the present trend continues, the danger for a severe decline in exports would extend.”