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February 22, 2001
(Bangla2000)--Garment manufacturers will elect a new leadership of RMG industry today (Thursday) vesting in it a onerous responsibility of facing a tough challenge, any default in which may land the highest export-earning sector in a serious setback, reports UNB. The challenge is to retain at least the existing share of Bangladesh in the US market, the single-largest buyer of the country's apparels. Of the total RMG export of USD 4.3 billion in 1999-2000, over 43 per cent accounted for USA market. The threat is shifting of US export orders from Bangladesh following the passage of US Trade and Development Act (TDA) 2000 that allows duty-and quota-free access of apparel products from Caribbean and sub-Saharan African countries. Some 2113 voters will elect the 27-member executive committee of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) from among four contesting panels and an independent candidate. In the election projection meetings, all the panel leaders expressed grave concern about the adverse situation of the industry ahead. Any lapses on the part of the new leadership will badly affect 76 per cent of the country's total export earnings and livelihood of around one crore people. Besides harming 20 lakh employees, other beneficiaries of the potential industry, like young entrepreneurs, will be directly hit by any such adversities, garment owners said. They said it can also cause a massive currency flight from the country to the Caribbean and sub-Saharan African countries as entrepreneurs would likely to relocate their factories to those areas to avail the privilege of TDA 2000. Meanwhile, BGMEA sent a delegation headed by the president of the outgoing committee along with the Prime Minister's entourage to USA for securing the same facility. |
