Bangladesh is hosting Gapexpo from January 18 to 21. Some 400 exhibitors from 24 countries are participating in the ongoing expo. On display are latest collections of garment accessories, packaging including labels, zippers, tags, tapes, thread, ribbon, buttons, rivets, laces, hooks, transfer film, paper, ink etc.
Gapexpo provides a platform for members to display their collections to readymade garment exporters and buying houses. The Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association was set up in 1989. It represents more than 1,500 garment accessories and packaging industries in the country. This sector earned $6.12 billion during 2014-2015. This figure is likely to touch $12 billion by the end of financial year 2018 and $18 billion by the end of 2025.
The garment accessories and packaging sector is an important component of backward linkages, which is critical for the growth of the readymade garment sector in the country. By way of support to the sector Bangladesh is thinking of cash incentives for exporters of garment accessories and low interest bank loans for infrastructure development, which can boost the sector and create more jobs. The country has already established an international standard accessories sector, which contributes to value addition and reduces lead time.