• Tuesday, July 22, 2014

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RMG Exports

RMG exports defy odds

RMG exports defy odds

Garment exports continue to go from strength-to-strength one year after the Rana Plaza disaster, rising 17.79 percent year-on-year in April to $1.92 billion. It fetched $19.97 billion in the first ten months of the fiscal year, up 15.37 percent year-on-year, according to data from Export Promotion Bureau. Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and...

Ticfa Talks

Duty cuts for RMG exports not in sight

Duty cuts for RMG exports not in sight

The visiting US delegation yesterday declined the country's request for duty reduction on garment items in the inaugural Ticfa talks, saying the issue is in the hands of the World Trade Organisation. Michael J Delaney, assistant US trade representative for South Asia, who is leading the five-member US delegation, said the matter of extending duty privileges to garment products from Bangladesh is part of the Doha Development Agenda of WTO. But the Doha round of negotiations is yet to be completed, he said. The US diplomat went on to insist that garment items from Bangladesh are not subjected to any discriminatory duty vis-à-vis China's, the largest apparel manufacturer, or other competitors. “Bangladesh and...

RMG exports: Is decoupling on the cards?

RMG exports: Is decoupling on the cards?

IN order to attain high growth rates, double digit manufacturing sector expansion is a must in Bangladesh. The manufacturing sector consists largely of exports where Readymade Garments (RMG) industry has been the driving force since 1980s. The performance of the RMG industry is a consequential part in attaining economic growth each year. In fiscal 2009, 88% of our RMG exports made its way into the European Union and USA; add Canada's share of 5% and we can see that 93% of Bangladesh's RMG exports went into what is known as the 'traditional markets.' The substantial amount of exports to the traditional markets over the years clearly indicates the sheer size of...

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