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CHITTAGONG, Feb 24 (BSS): The three-day Chittagong Apparels Fabric and Accessories Exposition (CAFAXPO)-2005 began here Thursday with an optimism of a bright future for Bangladesh's textiles and readymade garments (RMG) despite challenges being faced by the industry in the post-MFA era.
Commerce Minister Altaf Hossain Chowdhury inaugurated the exhibition at the CJKS Indoor Stadium. US envoy in Bangladesh Harry K. Thomas and Vice-Chairman of the Export Promotion Bureau (EPB) Mir Shahabuddin Mahmud spoke at the function as special guests.
Bangladesh Garments Manufacturers and Exporters Association (BGMEA) organised the event and its President Annisul Haq chaired the ceremony.
Speaking on the occasion, the commerce minister said it is a matter of hope that all the major RMG buyers are showing interest to continue and even expand their businesses with their Bangladeshi counterparts in the quota-free post-MFA era.
He said international apparel buyers and their agents also have some responsibility of placing export orders to Bangladesh to help alleviate poverty as the growth of the RMG sector is important for reducing poverty in the country.
He said the RMG sector has been contributing 76 per cent of the nation's total export earnings while it has employed two million people of whom 85 per cent are women coming from lower segments of the society.
Altaf sought all-out cooperation from the US government, particularly, from Harry K Thomas "to help achieve duty-free export of the RMG products to his country."
The US ambassador appreciated the contri butions of the garment sector to the country's economy and said: "It is the garments industry that has employed hundreds of thousands of impoverished women from all over Bangladesh".
Terming poor facilities and performances prevailing at the Chittagong port as an "obstacle" to achieving quick economic development of Bangladesh, he said Bangladesh will be immensely benefited if the port services can be improved and made more cost effective.
He said improvement of port facilities and services will enhance competitiveness of the RMG sector in the post-MFA era. Harry said the US government is ready to build partnership with Bangladeshi business leaders for promoting rule of law, transparency and infrastructure development in the country.
"TIFA between Bangladesh and the United States is being finalised, which will provide a valuable forum for trade discussions and taking better advantage of the commercial opportunities that already exist in Bangladesh," the US envoy said.
He said Bangladesh is a land of opportunities with its fertile soil, rivers and hardworking people.
BGMEA President Annisul Haq thanked the government for various measures for survival of the RMG sector and also for its steady growth.
He requested the US government to give nod to the bills that had already been moved in the US Senate and the House of Representatives relating to duty-free access of Bangladeshi garment products to the US market.
A total of 26 companies engaged in the backward and forward
linkage industries in the RMG sector are participating in the CAFAXPO-2005.
Seminars, one-to-one meetings between buyers and sellers and fashion shows are the main features of the event.
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