Bangladesh: Exports Of Basic Garments And Garments Decide The Future Direction Of Development

The World Bank recommends that Bangladesh strive to improve the standards of trade logistics, workers' technology and labour.

Some time,

Exports will continue to play an important role, but Bangladesh's competitive advantage in this area will deteriorate over time, the world bank said in a research yesterday.

To speed up exports, the study suggests consolidating existing strength in basic apparel and diversifying in other products, such as higher value clothing and service sectors.

Industrial leaders from Bangladesh said that clothing at the grass-roots level accounted for 75% of the country's total clothing exports, and Bangladesh exported 18 billion dollars of clothing products annually.

The world bank's research examines the prospect of pluralism in IT activation services, which is a fast-growing sector worldwide that can provide high quality jobs.

This study shows that human income and

The internal links between them grow.

Evidence from clothing exporters suggests that per capita income has a critical value, exceeding the critical value, and per capita clothing exports are falling.

For example, in Thailand, before reaching the critical value of US $2000 per capita GDP, the actual per capita clothing export growth in Philippines was US $1000, and in Sri Lanka it was US $1150.

Before reaching this threshold, a country's package exports showed a relatively diversified mix, including basic clothing and

The study says.

This is because the growth of wages and welfare pressure has worsened the competitiveness of basic clothing.

An efficient logistics will give Bangladesh a competitive advantage in the export of base and medium clothing, but the lack of skills will be a key point in restricting export growth, and the gap will become more and more serious, as Bangladesh is moving towards high value clothing.

Lack of skilled workers can increase the overall production cost.

Adherence to internationally recognized labor standards is increasingly important for consumers in the US and EU. The United States and the European Union are major markets for Bangladesh's clothing exports.

Bangladesh has many opportunities in clothing exports, but Bangladesh needs to strengthen labor law standards.

The relationship between owners and workers has been underestimated for many years.

Bangladesh's current cost advantage in the clothing sector is not enough to compete with the whole world because Bangladesh has increased the value chain.