BGMEA president, Bangladesh Apparel Exports Expected to hit $50 billion

06 February 2022, Mumbai:

The country's apparel exports are likely to fetch $50 billion in 2022, says Bangladesh Garment Manufacturers and Exporters Association President, Faruque Hassan.

"Last November and December, we exported nearly $4 billion worth of garments a month. We are hopeful we can touch the $50 billion mark this year," he told a programme in Chattogram on Sunday.

Chattogram port arranged the views exchange event to discuss different aspects of the recently opened direct shipping route between Chattogram Port and Italy's Porto di Ravenna. 

Chittagong Port Authority Chairman, Rear Admiral M Shahjahan, EU Ambassador to Bangladesh, Charles Stuart Whiteley, and Italy's Ambassador Enrico Nunziatya, among others, were present at the event.

The BGMEA president said the direct connectivity with Europe was an achievement for Bangladesh. "It would reduce business costs by 40% and cut shipment time to 16 days."

He hoped more European shipping lines would launch such services on their routes.

Mentioning that an effort to establish another direct route with the USA was underway, Faruque said Chattogram port could set more direct routes with long destinations.

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*Figures mentioned in the above article have been sourced from Buainess Standard article.