Minister for Textile and Jute Shajahan Siraj yesterday called upon both local and foreign entrepreneurs to invest in the country's textile industry, particularly in woven sub-sector, to face the challenges of quota-free global market.
"We'll have to develop the woven sub-sector to help the garments industry survive in the quota-free world," he said at his inaugural speech at the four-day long textile and RMG machinery show at Bangladesh-China Friendship Conference Centre.
Some 236 exhibitors from 22 technologically developed countries are showcasing their products at this 3rd Dhaka International Textiles and Garments Machinery Exhibition-2006 organised by Bangladesh Textile Mills Association (BTMA) in association with Malaysian company ES Event Management.
"Our local producers could meet only 25 per cent of total demand of woven fabrics while the knit sub-sector's contribution reached 80 per cent," he said indicating more investment was required in the woven sub-sector to meet the RMG industry's demand.
Mentioning the incentives, which Bangladesh offers to the investors in the textile industry like duty-free import of machinery and spare parts by the factories inside EPZs and industrial park areas the Minister said Bangladesh was lucrative place for the investors.
The exhibitors displayed a wide range of hi-tech primary textile and RMG machinery in 500 stalls -- considered the highest as compared to any other events in the country.
Enterprises taking part in the fair are from countries like USA, Germany, Switzerland, France, Italy, Thailand, Korea, Japan, Singapore, China, India, Indonesia, Malaysia, Pakistan, Hong Kong, Turkey, Thailand, UK, Spain, Taiwan and Bangladesh.
The exhibition showcased new technology, state-of-the-art equipment, materials and services as well as provided avenues for international suppliers to expand business to the lucrative market and accelerate Bangladeshi technological advances to ensure quality, speed and competitive advantages in textile and garment industry.
