RMG passing adverse situation: BGMEA

DHAKA: Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Shafiul Islam Mohiuddin said the garments industry of the country is passing through adverse situation.

He came up with the observation while talking to journalists in a press conference on ‘pre-Eid RMG sector situation’ held at BGMEA conference room Thursday.

“The second spell of recession around Europe and America has reduced the demand of the garments products which push us into competition with numbers of rivals like Vietnam and Cambodia,” he said.

He also said, “We have to find out new markets like Latin America, Australia, China, Japan, India to keep the export growth regular.”

Shafiul said weak infrastructure in domestic level, inadequate gas supply, gradual rise of the price of electricity and fuel, high interest rates and tax at the source around 40 percent have boosted up the cost of business.

While elaborating the initiatives taken by the organization, he said, it has sliced the garments zones inside Dhaka into nine segments.

Nine regional committees, 15 monitoring committees and a control room have also been formed to face any type of adverse situation.

BDST: 2105 HRS, AUG 16, 2012

Edited by: Kaiser Ahmed, Newsroom Editor/ Mohammed Humayun Kabir, Sr Newsroom Editor/ M. Mahbub Alam, Asst Output Editor