Bangladesh has turned around in the midst of global instability in Corona

Bangladesh has turned around in the midst of global instability in Corona

Photo: Collected

Bangladesh has turned economically in the midst of global instability as well as corona stagnation. The export target has been achieved in the first ten months of the current financial year. Which is about 41 billion US dollars. Of this, the garment sector accounted for 81 per cent of the 35 billion revenue.

According to the latest data from the Export Promotion Bureau, in the first 10 months of the fiscal year 2021-22, the export revenue of Bangladesh was 4 thousand 334 crore 43 million US dollars. The target for the full fiscal year was 4,350 crore US dollars Which was acquired two months ago.

However, the readymade garments sector has played an important role in achieving the target of export earnings. The sector has earned 35.36 billion US dollars. Growth is a record 36 percent, compared to 6 billion last year.

Rakibul Islam, vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said that a large number of orders had arrived in Bangladesh in the last 6 to 8 months.

Rakibul Islam, vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said that a large number of orders had arrived in Bangladesh in the last six to eight months. By shipping these orders on time, we will be able to raise up to 43 billion, even after meeting our 40 billion target.

Utilizing 40 years of experience, we, the employers and workers of Corona, have been working day and night to maintain the main economic driving force of Bangladesh.

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Syed Nazrul Islam, the first vice-president of BGMEA, said, "We have kept our industry afloat at a time when there are lockdowns everywhere in Corona." At that time our port authorities gave us support, our government gave us support. Our workers have joined the work at the risk of their lives. Bangladesh is now able to face any challenge. That's why the buyer is coming to us.

Not only that, in the remaining two months of the financial year, the country's garment factories are moving forward with the goal of export revenue of at least 6 billion US dollars.

According to traders, Bangladesh has taken risks to keep production normal in the country's garments as well as other industries since 2020. The garment industry was kept open by special arrangements, especially during the three-wave lockdown in Corona. His reward is to increase the export income. However, traders are talking about eliminating the existing problems to maintain this rate. On the other hand, the capacity of Chittagong port is being increased to maintain the export rate. The port of Chittagong was kept open during the lockdown to keep the economy afloat.

In this regard, Nasir Uddin Chowdhury, former first vice-president of BGMEA, said that the export sector of each department should provide overall cooperation. There is no chance of going back one day or two days late. If we can identify these places, if we can convince our buyers that there is no bureaucratic complication in our country, then their confidence in us will increase and so will the speed of business.

Rear Admiral M Shahjahan, Chairman, Chittagong Port Authority, said, “We are in the process of capacity building and it will continue. We have also increased the yard space a lot.

It may be mentioned that in the fiscal year 2020-21, the export income of Bangladesh was 38.76 billion US dollars. Of this, the garment sector had a revenue of 31.45 billion US dollars.