To meet the challenges from buyers to compete with international competitors, RMG industries have now got a strong foothold in Bangladesh after a long struggle.

These industries, after local business threats that come from political instability and other crises, are surviving today. Around 4,500 garment industries are engaged in manufacturing and exporting RMG products. 3,500 garment factories are compliant and capable to meet any orders of world-class buyers in terms of quality, value and volume, as per the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Bangladesh’s RMG industries are the top exporters of the world; the industry exports are pegged at 81 per cent of the total earnings of the country. Thus, the industry needs support from stakeholders, the government, and central bank and trade bodies of the country to expand its exports and sustain its growth. It does encounter impediments from competitors, international and national political instability.

The USA, UK, Germany, France, Spain, Italy, Belgium, Netherlands, and Canada are main buyers of Bangladeshi RMG. The total export to these countries was $4,956.73 million of which 91.14 per cent (woven 51.55 per cent and knitwear 39.59 per cent) were garments, in the January-March 2015 quarter. Bangladesh's garments are facing stiff competition with the other exporters in the European countries. The government’s move of withdrawal of cash incentives given to the exporters has worsened the situation. Now, the Bangladeshi RMG exporters now face fierce competition in EU countries. The country’s apparel exporters would face a huge setback due to elimination of cash incentives.

To increase export of Bangladesh's RMG products, different strategies need to be adopted. Changing the products in terms of types and brands, diversifying the export-targeted countries in different continents will increase exports of the country.

www.bgmea.com.bd