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BGMEA seeks IMF support to attain $100bn export target

It also aims to create jobs for 6 million in the country’s apparel sector by 2030

  • Special Correspondent
  • 21 July, 2022 12:00 AM
  • Print news
BGMEA seeks IMF support to attain $100bn export target
BGMEA President Faruque Hassan presents a souvenir to IMF Mission Chief for Bangladesh Rahul Anand during the latter’s visit at BGMEA PR office at Gulshan in the capital on Wednesday.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has sought support from the International Monetary Fund (IMF) to realise a strategic vision of the country’s readymade garment industry as it targets to achieve $100 billion apparel exports by 2030.

BGMEA President Faruque Hassan made the appeal while a delegation of the IMF led by IMF Mission Chief for Bangladesh Rahul Anand paid a courtesy call on him at BGMEA’s PR office in Gulshan, Dhaka on Wednesday.

The IMF team included Resident Representative in Dhaka Jayendu De and Senior Economists Ritu Basu and Estelle Xue Liu.

BGMEA president apprised the IMF delegation about the renewed vision of BGMEA along with its new Nine Dot logo.

He said BGMEA has set its sustainable strategic Vision 2030 with an aim to pursue the growth of the RMG industry in a manner that is sustainable and positively impacts the economy, the environment and the lives of people.

He said the industry has set a target of exporting apparels worth $100 billion by 2030 while creating employment for 6 million people in the apparel sector during the period by ensuring 100 percent gender equality, inclusiveness, and a decent workplace.

Faruque Hassan sought the support of IMF in realising the vision of the RMG industry, which in turn would contribute to the development of Bangladesh.

BGMEA vice presidents Miran Ali, Rakibul Alam Chowdhury and directors Asif Ashraf and Barrister Vidiya Amrit Khan and chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud were also present at the meeting.

They also discussed issues pertaining to the RMG industry of Bangladesh including its current situation, opportunities and strategies to meet future challenges and sustain growth. 

The issue of possible impacts of Bangladesh’s LDC graduation in terms of tariff changes and market access was talked about.