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Bangladesh works toward export target of $50 billion by 2021

Bangladesh has a target of earning $50 billion from readymade garment exports by 2021. The readymade garment sector is a vital sector of Bangladesh economy which is immensely contributing to the country’s export earnings, employment generation and value addition. Contributing approximately 80 per cent of the country’s total export earnings, Bangladesh is the second largest apparel exporter in the world, next to China.

And in the case of empowerment of women, this industry is one of the driving forces. Currently, more than 44 million workers are working in garment factories in the country and 80 per cent of them are women. Efforts are being made to ensure a safe, sound, green, environment-friendly and a vibrant garment sector. In fact, out of 10 eco-friendly factories in the world, seven are located in Bangladesh.

Steps are being taken on capacity building and improving the competitiveness of the readymade garment industry. Significant improvements have been made on various issues, including the development of garment industry, strengthening safety of workers, fixing minimum wages, inspection of industrial factories and strengthening of monitoring. Labor laws have been amended and attention has been paid to occupational health and safety, green growth and sophisticated, clean technology.