BGMEA anticipates to bag $50b of RMG exports in 2022

Staff Correspondent: Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President, Faruque Hassan expressed that in 2022 Bangladesh’s readymade garment (RMG) exports are likely to fetch $50 billion.
Faruque Hassan made the remarks recently while visiting the Chattogram seaport. Chattogram port arranged the opinion exchange event to discuss diverse features of the lately unlocked direct shipping route between Chattogram seaport and Porto di Ravenna of Italy.
“Last November and December, we exported nearly $4 billion worth of garments a month. We are confident we can touch the $50 billion mark this year,” Hassan added.
In the program, BGMEA President also added that Bangladesh-Italy direct shipping would reduce business costs by 40% and cut shipment time to 16 days. And the uninterrupted connectivity with Europe was an achievement for Bangladesh.
Hassan expected more European shipping lines would launch such services on their routes.
Faruque also revealed that an effort to establish another direct route with the USA was underway.
Chittagong Port Authority Chairman, Rear Admiral M Shahjahan, EU Ambassador to Bangladesh, Charles Stuart Whiteley, and Italy’s Ambassador Enrico Nunziatya, among others, were present at the event.
Mentioning that, Faruque said Chattogram port could set more direct routes with long destinations.
M Shahjahan said the capacity of the Chattogram port was on the rise. Currently, it can handle some 4.5 million twenty-foot equivalent units (TEUs) of containers, or goods worth $80 billion a year.
Shahjahan added that the Patenga Container Terminal would go into operation within June this year, and another deep seaport was being built in Cox’s Bazar’s Matarbari.
Enrico Nunziatya and Charles Stuart Whiteley stated optimism that the direct shipping connectivity between Bangladesh and Italy would enhance bilateral relations.