Dhaka, Bangladesh (BBN)-Bangladesh has taken initiatives to help the country’s garment industry reach US$50 billion in exports by 2021.
To achieve the target, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) joined forces with American Apparel & Footwear Association (AAFA), the German Development Cooperation (GIZ) and Bangladesh Brand Forum (BBF), reports knittingtradejournal.
This new venture follows news earlier this year that a US-based private investment firm is to invest US$200 million in the country’s ready-made garment and textile industries, a project which could see it acquire minority stakes in a number of the country’s large-scale knitting mills.
BBN/AS-25Sept14-9:30am (BST)