Kamruzzaman Bablu :
By adopting policies such as easing bond licensing, introducing non-discriminatory import taxes, and reforming the tax policies of Customs and the National Board of Revenue (NBR), Bangladesh’s apparel exporters are hopeful about sustaining growth in 2025. Insiders believe these measures will provide much-needed momentum after a challenging year in 2024.
Industry leaders anticipate a rise in the country’s readymade garment (RMG) exports in 2025, particularly with Donald Trump assuming office as President of the United States on January 20. Trump’s plans to impose tariffs on Chinese goods could create new opportunities for Bangladeshi exporters.
Garment exports from July to November 2024 have already shown positive growth, increasing by 16.25 per cent compared to the same period in 2023, reaching $16.11 billion.
Notably, Trump has proposed a 60 per cent tariff on Chinese goods, a 25 per cent-100 per cent tariff on goods from Mexico, and a 10 per cent-20 per cent tariff on all other imports.
Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), expressed optimism, stating, “Entrepreneurs believe the new US president is business-friendly. He may succeed in ending the Russia-Ukraine war, allowing Europe and the US to recover from inflation. This would expand Bangladesh’s two main export markets, boosting the country’s export income.”
To fully capitalise on these opportunities, Hatem highlighted the importance of ensuring reliable gas and electricity supplies, addressing challenges in the banking sector, and improving law and order to prevent labour unrest and enhance factory safety. Achieving these goals could establish a business-friendly environment and foster robust export growth by mid-2025.
Hatem also emphasised the need for innovation, suggesting a shift from cotton to non-cotton items, a focus on military, athleisure, or technical textiles, and advancements in the chemical and machinery industries.
He noted that energy and dollar crises, supply chain disruptions, demands for higher wages, political instability, and weak law enforcement had created significant challenges for garment manufacturers in 2024.
However, there is reason for optimism, as Bangladesh’s garment exports to key markets like the European Union and the United States have shown signs of recovery.
Industry leaders believe that with the right policies and strategic measures, 2025 could mark a turning point for Bangladesh’s RMG sector.
