Denim exports need to double by 2030 to achieve 100 billion US dollars: Speakers

Speakers at the inaugural ceremony of the 15th Bangladesh Denim Expo said Bangladesh needs to double its denim exports to achieve the US$100 billion export target by 2030 that was fixed by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) early this year, reports UNB.

“Bangladesh is the 2nd largest apparel exporting country in the world, but in denim, we are the largest exporter both in the EU and the USA, even before China,” said Commerce Minister Tipu Munshi on Wednesday.

“Bangladesh Denim Expo has a huge contribution behind this success of Bangladesh’s denim export,” he said while inaugurating the 15th edition of the Bangladesh Denim Expo as chief guest in Dhaka.

Siddiqur Rahman, former president of BGMEA; Faruque Hassan, president of BGMEA; SM Mannan Kochi, senior vice president of BGMEA; and Mostafiz Uddin, founder and CEO of Bangladesh Apparel Exchange (BAE), were the special guests on the occasion.

“Denim and denim-related products account for about one-fourth of Bangladesh’s total apparel exports. So, to reach the US$ 100 billion apparel export target, the country has to double its denim exports by 2030,” said Siddiqur.

“It’s possible. Because we believe that brands and retailers will choose Bangladesh as their preferred apparel sourcing destination since the country has made exemplary progress in workplace safety and sustainability in recent years,” he added.

“The presence of 200 green garment factories LEED certified by the United States Green Building Council (USGBC) in the country is a testament to Bangladesh’s apparel industry’s commitments towards sustainability,” said Faruque.

“Among the world’s top 10 green factories, at least eight are located in Bangladesh,” he added.

“H&M has taken the initiative to reduce 56 per cent of carbon dioxide by 2030. It has taken the initiative to sign a power purchase agreement to make the market competitive for the company. He emphasised taking a more regularised scheme to the recycling process. Also, focus on innovation -- try, learn, and adapt techniques that are vital for the apparel industry. On this note, H&M is working with the GIF for green innovation,” said Ziaur Rahman, regional country manager (Bangladesh, Pakistan, and Africa), H&M.

A total of 80 exhibitors from 12 countries are participating in the Expo. About 5,000 visitors from home and abroad have registered to attend the two-day expo.

Four panel discussions are also being organised for this edition of the expo.