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Bangladesh:Shipment delays to be a thing of the past -
RMG sector to finally benefit |
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2004-12-29
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In a swift decision the government has decided to introduce a series of measures at the Chittagong Port to reduce shipment time and cost for garment products significantly and make it competitive in the post-MFA era, at a meeting on Sunday chaired by Shipping Ministry Joint Secretary Nepal Chandra Sarker.
A one-stop cell (OSC) at the Chittagong Port will facilitate the completion of the shipment process for garment products within 24 hours. Under the initiative, the shipment stages for garments products will be brought down to 12 from the existing 47 at the port level, according to a Ministry official.
"The export cost for a container of garments will be reduced by 30 per cent with the implementation of the decisions," president of the Bangladesh Garments Manufactures and Exporters Association (BGMEA) Anisul Haque told FE Monday.
The above decision will benefit garment exporters who will now have to pay US$ 600 for single TEUs to export USA.
The lead-time for exporting garment products to USA and Europe stands reduced to 45 day''''s from the existing maximum 60 days, the BGMEA president added.
The committee will send letter to the ministry tomorrow for implementing the services within a short time.
Among the long standing demands of BGMEA, such services will be a boon for ensuring garment products to be more price competitive in the world market.
Presently, the garments sector employs around 1.8 million workers, 90 percent of whom are women, contributes about 65 percent to the country''''s annual export earnings and keeps the economy of one of the world''''s poorest countries strong and healthy.
BGMEA President Annisul Huq said Bangladesh earned over $47 billion dollars from RMG exports in the last 20 years. "If the sector gets government''''s support, the annual earnings from it can be increased from the present $5.5 billion to $10 billion by 2010," he projected. |
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