Bangladesh apparel exports value to reach $50 billion in 2022: BGMEA

The value of Bangladesh apparel exports is likely to reach $50 billion in 2022, said Bangladesh Garment Manufacturers and Exporters Association President, Faruque Hassan at a views exchange meet arranged by the Chattogram Port. The event aimed to discuss different aspects of the recently opened direct shipping route between Chattogram Port and Italy's Porto di Ravenna. It was attended by Rear Admiral M Shahjahan, Chairman, Chittagong Port Authority, Charles Stuart Whitely, EU Ambassador to Bangladesh and Enrico Nunziatya, Italy Ambassador. BGMEA exported $4 billion worth of garments a month in November and December 2021 and hopes to touch the $50 billion mark in 2022, Hassan said. Direct connectivity with Europe would reduce business costs by 40 per cent and cut shipment time to 16 days.

He hoped more European shipping lines would launch such services on their dirct routes with Chittogram port. Shahjahan added, the Chattogram port can handle some 4.5 million 20 foot equivalent units (TEUs) of containers, or goods worth $80 billion a year. The Patenga Container Terminal would be operational within June 2022, and another deep seaport was being built in Cox's Bazar's Matarbari.

Enrico Nunziatya and Charles Stuart Whiteley expressed hope direct shipping connectivity between Bangladesh and Italy would enhance bilateral relations. It would also help the two countries boost trade, they believed.