Bangladesh has many policy options to increase exports. For improved product quality and diversity, reducing import barriers to manmade fibres is essential. Bonded warehouses, duty drawback, cash subsidy, and export processing zones could also help. To improve compliance and better safety standards, one potential option could be to encourage the relocation of firms into export processing zones.
Clothing exports could create more and better jobs in Bangladesh if the country makes improvements in productivity, product quality and reliability, and by enforcing better safety conditions and other compliance policies, according to a World Bank report said.
The report titled “Stitches to Riches: Apparel Employment, Trade and Economic Development” #
The report demystifies the global and South Asian apparel markets, estimating the potential gains in exports and jobs, and identifies policies that can unleash South Asia's export and job potential. The report was launched today in Dhaka jointly with the Bangladesh Institute of Development Studies. (SH)
ALCHEMPro News Desk – India
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