Export target for RMG sector

The Government has fixed an ambitious export target of $14.5 billion for the fiscal year 2007-08. The target fixed at a meeting of the Commerce Ministry is 19% higher than the previous fiscal year's export earning of $12.17 billion with 16% growth. The export target was $12.5 billion in the last fiscal year.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Anwar-Ul Alam Chowdhury Parvez said although the target is difficult to achieve, it is not impossible to attain.

Mr. Zaid Bakht, Research Director of Bangladesh Institute of Development Studies, said the export growth in the first nine months of the last fiscal year was 22% while the growth came down to around 16% in the last three months of the fiscal year. The downward trend is still continuing.

As per the new target, the government aims to earn $5.4 billion from the weaving sector with a 16% growth. In the last fiscal year, the sector witnessed 14% growth with an export earning of $4.65 billion against a similar target.

The Government has fixed $5.46 billion as the export target for the knitwear sector with a 20% growth. In the last fiscal year, earning from the sector was $4.55 billion with 19.3% growth against a target of $4.84 billion. The RMG makes up 75% of the country's exports.