Dhaka, Bangladesh (BBN)-The Bangladesh government will provide policy support to garment accessories and packaging manufacturers in the country.
The initiative will help the apparel sub-sector to grow as the apparel industry, said State Minister for Finance MA Mannan, reports India-based apparel website Fibre2fashion.
The minister made the comment during the launch of the ‘Integrated Support to Poverty and Inequality Reduction through Enterprise Development’ (INSPIRED) project in Dhaka that aims to develop small and medium enterprises (SMEs) in the country.
Mannan explained that the garment accessories and packaging manufacturing industry is one of the mainstays of the Bangladeshi economy, and the sub-sector would be provided every possible policy support for growth similar to the clothing industry.
During the inaugural ceremony of the project organised by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), the minister informed that the packaging and accessories makers in the country also make significant contribution to the value chain of various industries, including clothing and textiles, which remain ignored.
The government would be extending its support to these secondary industries so that they get an opportunity to develop on a pace equal to the apparel and textile industry of the country, he added.
The INSPIRED project, initiated by the European Union (EU) with the support of Bangladesh government, aims to reduce poverty by supporting the development of SMEs in the country.
Managed by the SME Cell of the Ministry of Industries, the SME Foundation, Bangladesh Bank, Bangladesh Bank Training Academy (BBTA) and Bangladesh Institute of Bank Management (BIBM), among other organisations, the project would provide a grant of €6.5 million to business intermediary organisations and cluster associations to work with SMEs to improve their competitiveness in various sectors, including textiles and clothing.
The project, which is expected to continue till January 2017, is funded by the EU and the Bangladeshi government, with the EU providing financial assistance to the tune of €19 million.
BBN/SS/AS-23May14-8:00pm (BST)