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Business bonanza in apparel: Exporters seek faster raw material delivery through green channel

FE REPORT | Tuesday, 5 July 2022


Apparel exporters seek faster delivery of imported raw materials through coordination between customs and port authorities, as they eye business bonanza in global market rebound.

Issuing "self-clearance licence" to the exporters by the revenue board is demanded as a main mechanism for faster trade transactions to catch up with market demand.

Such self-clearing would allow them to take quick delivery of raw-material imports from the ports, thus enabling them to operate to set lead time, according to a statement issued Monday by the apparel-sector apex body after a meeting with the NBR chief.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan placed the demands during the meeting with the National Board of Revenue NBR Chairman, Abu Hena Md Rahmatul Muneem, at the latter's office in Dhaka earlier in the day.

BGMEA vice-president Shahidullah Azim, director Asif Ashraf and Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud were also present at the meeting.

The association leaders stressed the importance of simplifying business procedures for the export-oriented apparel industry in order to retain its competitiveness on the global market.

They requested the NBR to remove customs and bond-related hindrances from the business proceedings to accelerate growth in the RMG industry.

Quoting BGMEA president Mr Hassan, the statement said simplified business procedures would reduce lead time and thus make the apparel industry of Bangladesh more competitive.

"It will pave the way for seizing new opportunities that are lying ahead of the RMG industry," it added.

According to the statement, NBR Chairman Abu Hena Md Rahmatul Muneem congratulated the clothing sector on making outstanding contribution to the crossing of a milestone in Bangladesh's export trade with a total earning of $52.08 billion out of which apparel alone fetched 42.61 billion dollars in the just- concluded fiscal year.

"This is a great achievement and milestone for Bangladesh in the year the country celebrated its 50th anniversary," it quotes the revenue chief as saying to the country's largest export-earners.

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