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Exports of garments to the Middle East countries might be doubled within year if the government and chambers can utilise the opportunity of existing 5 per cent duty waiver there.
Abdus Salam Murshedy, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said this while talking to daily sun. The members of Gulf Cooperation Countries (GCC) will provide us zero tax export facilities by lifting the existing 5 per cent tariff as per a contract signed recently.
“If we can utilise the opportunity, our export volume in GCC countries will be doubled,” he said.
In fiscal 2009-10, Bangladesh exported knitwear and woven products worth US $ 59.40 million to the six GCC countries. Of which, US $ 21.9 million was exported to Saudi Arabia and US $ 34.5 million to the United Arab Emirates.
“We need to arrange at least a single country fair in the Middle East every year to show them the quality of our products and represent our export positions,” Murshedy said adding “at least 20 million non-resident Bangladeshis are staying in Middle East countries, and so they are our big markets.”
He stressed on the need for organising meetings with inter countries chamber leaders to know the scopes and opportunities for export to Middle East countries.
“The inter chamber meetings and positive drive of economic section of foreign missions abroad will not only increase export of garments but also many other items,” Murshedy told daily sun yesterday.
The Middle East people are still unaware of Bangladeshi products quality, he mentioned adding: “If the employees of foreign missions get proper training on exploring markets abroad, it will help Bangladeshi entrepreneurs enter into the markets.”
“It is possible to boost country’s garments exports $ 30 billion dollar from the present 17 billion,” he said.