$100b apparel exports possible by 2030 with adequate energy supply: BGMEA

Bangladeshi garment manufacturers have the potential to export $100 billion worth of apparel by the end of 2030 if they are ensured an adequate supply of gas and electricity and benefit from simplified business regulations.

Industry leaders say reaching $100 billion in exports is not a formal target but a realistic possibility as global demand for apparel continues to grow and supply chains return to normal.

However, they stress that achieving such growth will require uninterrupted energy supplies, as many factories are currently operating below capacity due to gas and power shortages.

Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), made the comments to The Daily Star after an annual general meeting of the trade body.

Moreover, the BGMEA will work with the government to simplify customs procedures and reduce delays in export and import processes in order to enhance Bangladesh's competitiveness in the global supply chain, Khan said.

Auditing takes a long time in Bangladesh, and this period should be shortened to make businesses more competitive in the post-LDC era, as maintaining competitiveness will be crucial for Bangladesh in the global supply chain after graduation from the least developed country (LDC) category, he added.

The government has already allocated Tk 20,000 crore for reopening closed factories, and the BGMEA has been collaborating with the government by providing information on shuttered production units so that they can access the fund, the BGMEA president also said.

At the meeting, members also raised concerns about faulty clauses in the Bangladesh National Building Code, which have created difficulties for many factories.

BGMEA leaders expressed their willingness to work with the government to find a solution to these problematic clauses.