Since the beginning of this year, the garment sector, the main source of export income, has been in turmoil due to the workers’ movement demanding minimum wages. There are still traces of unrest in this sector. In addition, in July and August, the student movement against discrimination, and above all, the student-public movement aimed at toppling the Awami League government, caused instability across the country. This cut off communication with buyers. In the resulting situation, many buyers turned away; imports and exports came to a halt. After the head of the interim government formed after the fall of the Sheikh Hasina government, Nobel laureate Dr. Muhammad Yunus took charge, much of the relief returned. Imports and exports normalized. Even after this, many crises remain in this sector. But even in this, the country’s ready-made garment sector’s export income has increased. The worries and anxieties of entrepreneurs are also slowly disappearing. They are seeing new dreams. They believe that if the environment is normal, not only exports but also new investments will increase. In this regard, entrepreneurs have called on the government to come forward to solve several problems. According to them, it is necessary to increase the supply of gas and electricity to advance the ready-made garment sector. It is important to ensure safety to keep factories running. In addition, there is no alternative to the government taking various initiatives to attract buyers.
Meanwhile, according to the Export Promotion Bureau (EPB), the export income from ready-made garments during July-November of the current fiscal year was 16.11 billion 71 million dollars, which was 14.34 billion 65 million dollars in the same period of the previous year. In this case, the growth in exports compared to the previous year was 12.34 percent. In addition, in November alone, clothing exports were 3.30 billion 61 million dollars, which was 2.84 billion 40 million dollars in the same month of the previous year. The growth was 16.25 percent.
In addition, the home textile sector earned 320 million 68 million taka during the period under review. The exports from this sector during the same period last year were 311 million taka. In this case, the growth was 5.03 percent. In addition, while exports were $59.5 million in November last year, exports were $71.8 million or 20.74 percent more during the same period this year.
When asked, Dr. Zahid Hossain, former chief economist at the World Bank’s Dhaka office, told our time that to increase investment, internal systems must be changed at the beginning. Several tables have to be run for the same type of work. This needs to be stopped. The government has launched a one-stop service. It needs to be implemented. He said that investment will increase if investors are free from harassment.
Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said that entrepreneurs are feeling relieved after seeing the export picture. It has been going from a negative situation for several months to a better one. This is good news. He said that due to political unrest and worker dissatisfaction, many ordered products could not be sent in the first three months of the current fiscal year. They have now been sent. This is one of the reasons behind the increase in exports.
Mohammad Hatem said that new orders are coming. But they want to buy products at low prices. Some buyers are trying to take advantage of the workers’ dissatisfaction and political situation. He said, we are in a good position because of the support of world leaders, especially Europe and the United States, for Chief Advisor Muhammad Yunus and the normalization of gas supply to factories. If the gas supply increases further, our exports will increase further, he said.
Mohiuddin Rubel, former director of the BGMEA, the organization of ready-made garment industry owners, told our time that it is good news that exports have increased after the last few months. If this continuity of exports can be maintained, it will instill new hope among entrepreneurs. They will be interested in investing. Fear among entrepreneurs is gradually disappearing. If the environment is good, investment and exports will increase further. He said, first of all, safety needs to be ensured in factories. In addition, gas and electricity infrastructure also need to be developed.
