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Tatiana Romanova; EU-Russian relations; 3rd energy package. It also plays a pivotal role to promote the development of other key sectors of the economy like banking, insurance, shipping, courier services, hotel, tourism, road transportation, railway container services, etc. Net domestic value addition—hitherto a weak point, on account of the heavy dependence of the sector on imported fabrics, yarn and accessories—has risen substantially, so much so that nearly 60 percent of the required inputs are now domestically sourced, as compared to a mere 36 percent in One of the key advantages of the RMG industry is its cheap labor force, which provides a competitive edge over its competitors.

The sector has created employment opportunities for about three million people of which 80 percent are women who mostly come from rural areas. A Snapshot of RMG Sector : Since the late 70s government initiative such as special bonded warehouse schemes, duty drawback systems and export policy reforms mid eighties all helped the RMG sector to operate in almost a free trade environment. Currently, there are nearly 5, RMG firms in Bangladesh. More than 95 per cent of those firms are locally owned with the exception of a few foreign firms located in export processing zones. The RMG firms are located mainly in three main cities: the capital city Dhaka, the port city Chittagong and the industrial city Narayanganj.

Garment companies in Bangladesh form formal or informal groups. The grouping helps to share manufacturing activities, and to diversify risks; horizontal as well as vertical coordination can be easily found in such group activities.

Readymade garments manufactured in Bangladesh are divided mainly into two broad categories: woven and knit products. Shirts, and trousers are the main woven products and undergarments, socks, stockings, T-shirts, sweaters and other casual and soft garments are the main knit products. Woven garment products still dominate the garment export earnings of the country. Although various types of garments are manufactured in the country, only a few categories, such as shirts, T-shirts, trousers, jackets and sweaters, constitute the major production-share.

These two destinations generate more than 90 per cent of the total RMG export earnings of Bangladesh Table 2. It is important to note that the RMG sector helped create jobs in complementary industries or services, such as accessories, packaging, toiletries demanded by newly employed female RMG workers , courier, finance, transport and telecommunications services, etc. While the export-quota system cushioned the Bangladesh RMG industry, enabling it to remain competitive as a prominent garment supplier in international markets until , the phase-out of the system was expected by many analysts to threaten the very survival of this industry.

That apprehension was proved wrong as RMG exports continued to grow after putting Bangladesh securely on the world map as a leading exporter of garments. Yet there are challenges. Thanks to domestic investments in textiles, the consumption-production gap of yarn decreased over time, although actual consumption increased every year. The fabric-manufacturing capacity of the country also increased over time. Such a trend indicates that the linkage expansion process of the Bangladesh RMG industry, started in the early s, has not lost momentum.

Still, many garment manufacturers in Bangladesh are prefer using imported raw materials instead of using local raw materials owing to price and quality differences. The price of RMG inputs supplied by local sources is relatively high. Bangladesh is just a price taker in sourcing RMG inputs from external sources, whereas competitor countries such as India and China have a certain level of influence on RMG input pricing, as they themselves are prominent textile suppliers in the world market.

In addition to speedy supply, the social dimensions of the RMG industry are getting more attention from consumers, social workers, welfare organizations and brand name international buyers. Informal recruitment, low literacy levels, wage discrimination, irregular payment and short contracts of service are very common practices in the RMG factories in Bangladesh. It is true that the country still enjoys some comparative advantage in manufacturing garment products based on low labor costs. However, such advantages cannot be sustained forever nor can they be expected from a humanitarian perspective.

Rented factory premises, narrow staircases, low roofs, closed environments, absence of lunch rooms, unavailability of clean drinking water and no separate toilets or common rooms for female workers, low wages etc are other concerns in the garment factories of Bangladesh. The product and market composition of garments from Bangladesh requires special attention to ensure the long-term sustainability of the Bangladesh RMG industry as a prominent supplier in the global market.

The export-quota system diverted the attention of some international garment suppliers from quantitative expansion to qualitative improvement of exportable garment products. China and other competitor countries took that opportunity, but Bangladesh failed to do likewise. The country stands far behind in the race to upgrade products compared with its rivals. Strengthening the process of upgrading products is very important for the Bangladesh RMG industry if it is to enhance its competitiveness and continue to augment foreign exchange earnings.

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The textile industry provides the very important backward linkage in terms of raw materials for RMG as well as for the domestic market. Indeed with the growth of per capita income, the domestic demand for textiles has grown rapidly and has provided the basis for a buoyant textiles market. The textile sector as a whole faces various constraints and problems majority of which are described as under:. Jute Industry has long been playing a significant role in the national economy of Bangladesh.

Soon after independence of Bangladesh, Jute mills under private ownership including abandoned Jute Mills and the then EPIDC sponsored Jute Mills were nationalized through promulgation of the Bangladesh Industrial Nationalization Order and the responsibility for managing, supervising, controlling and co-coordinating the activities of the mills were vested with Bangladesh Jute Mills Corporation BJMC. Subsequently in pursuance of the Privatization Policy, 50 mills have been privatized during to , 2 mills have been scrapped and another 2 mills handed over to the Privatization Commission.

The jute sub-sector has been making considerable contribution to the economy by exporting jute and jute products and a large number of workers are involved in jute and jute goods production. Majority of the locally produced raw jute are used in the domestic mills and the remaining jute and jute goods are exported to overseas countries.

Bangladesh is on course to be the next manufacturing hub for the global footwear industry. Many international manufacturers are now interested in setting up factories in Bangladesh mainly due to a good supply of cheap labor. Buyers from the EU and Japan are showing a lot of interest in Bangladeshi produce.

All in all, the footwear sector seems very promising but competition from China, India and Vietnam is severe. Further surges in growth in export are expected from Bangladesh despite competition from China, India and Vietnam who already possess a well developed leather and footwear export industry. The growth in footwear exports will aid in achieving the goal of export diversification and will act as a safeguard against fall in revenue from leather products for instance.

Given the economic slowdown high priced products may register negative growth as consumers tighten their finances and look for slightly low priced goods.

This provides a golden opportunity for Bangladesh and mainly for the footwear and leather sector to increase its share. With a good policy environment this sector is likely to succeed and follow in the footsteps of RMG. Leather manufacturing is one of the oldest manufacturing sub sectors in Bangladesh. Essentially there are three broad components of the leather industry and they are a leather tanning, b leather footwear and c carry bags, wallets etc. The industry requires modest level of fixed capital and mostly uses hand tools and sewing machines.

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Moreover, most of the enterprises may be classified in the small to medium category. Most of the entrepreneurs take advantage of the liberalized trade regime and import significant part of their inputs from abroad and manufacture footwear inputs locally. However, initially availability of footwear based imported ingredients has been one of the key factors in spurring the growth of small footwear making enterprises in Bangladesh.

Industry analysts have argued that given the rapid growth of exports the 1billion mark can be reached by FY Furthermore the demand for Bangladesh leather is picking up pace mainly due increase in production cost wages in particular in competing countries. Given the high quality leather and leather products that Bangladesh produces at the moment the export contribution is likely to jump in the near future. Bangladesh has to gear up and be able to deliver on its orders to stamp its authority in this market as orders from China and India are shifting to the local manufacturers. Many buyers from China are coming to Bangladesh for the low cost of production.

Moreover many European buyers are trying to take advantage of the duty-free export facility to the EU as an additional Some of the challenges faced by the footwear and leather industry are common to other industries as shown in the constraints to manufacturing section. Listed below are some industry specific challenges:. LEI sector plays an important role in the economy in terms of its contribution to employment, output, value addition and exports.

Essentially, LEIs are labor intensive industries requiring less capital and generating more employment per unit of capital. This sector has been playing an important role in the growth of many industries by supplying various types of machines, spare parts and providing essential repair services Box 2. Most industries of the manufacturing sector has been historically dependent on imported machines and analysts have suggested that if Bangladesh is able to produce high quality light machinery then value addition of most products that are exported will rise significantly.

LEI sector comprises of various types of engineering enterprises and a most of them are small in size comprising of workers. As of June there are about 40, LE firms generating 0. The main products of this sector are metal, electrical, electronic and electromechanical products. Since this sector plays a pivotal role in fuelling growth in a number of sectors such as jute textile, food processing, fertilizer, shipping, marine transport, automobiles etc it has received special attention from past and present industrial policies of the government.

In , and this sector has been considered as a thrust sector for development. LEI enterprises are spread across the country. Apart from a few items most light engineering products are mainly produced for the local market. Exporters receive 10 percent cash incentive from government on export value.

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In general products that are exported include paper and Cement Mills, Bicycle, fancy light fitting, battery, voltage stabilizer, Iron chain etc. Given the massive potential for the sector both catering domestic needs of rapidly growing industries and international demand the focus should be to obtain greater show casing of local works in international markets.

Given the focus on having a strong manufacturing sector the next few years will be crucial for strengthening LEI and reducing and managing the challenges that the industry faces. Pharmaceutical industry is one of the most promising sectors in the economy. After the promulgation of the Drug Control Ordinance the industry took off. The knowledge, innovative thoughts and ideas of the professionals working in this sector are the key factors for the development of the sector.

The sector has been supplying about 97 percent of total medicine requirement of the local market.

Due to recent improvements and development in this sector it has been successful in exporting medicines to the global market including the European market. Furthermore with growing local and international demand a number of new companies are being established with high tech equipments and skilled professionals.

Industry analysts have suggested that due to healthy investment and favorable government policy to explore foreign markets the sector has grown by 13 percent in this compares relatively well given the low starting point for Bangladesh with other countries such as India and China which has grown by 21 and 18 percent in the same year Source: Armtek Pharma LLC, Consulting firm.

With over an investment of million USD the sector has emerged as a major player in the Bangladeshi economy. Bangladesh is already exporting medicine to over 72 countries across the globe including the EU. Furthermore, the industry is also trying to break into the massive African market. This sector has been a prime example of how the private sector can thrive in a favorable policy sphere.

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Investment worth up to Taka 20 billion is already on process as the government has decided to set up an API Park in Chittagong with the facility to house 20 plants. In the last few years as many as 10 firms each investing Taka million or more have emerged. Some are already marketing their products while others are in the process. Moreover, the sector has set its target to take advantage of TRIPS and the Public Health agreement which allows Bangladesh to export pharmaceuticals worth potentially billions of dollars in the period between during which Bangladesh companies are allowed to produce patented products.

Within the manufacturing sector, the growth of the agro-processing industry is particularly important for Bangladesh as this is one of the major industries in terms of contribution to total manufacturing production and employment. In general, Bangladesh has a rapidly growing agro-processing sector, which mostly relies on domestic agricultural production focusing on serving domestic demands.

Furthermore, despite having good potential for high volume exports, these potentials have not been realized. In recent times, fisheries, fruit and vegetables processing have received more attention though export is limited to a few countries. The agro-processing sector includes rice and wheat milling, sugar refining, production of edible oils, processing and preserving of fruits and fruit juices as well as fish processing, both white fish and shrimps.

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