Garment accessories bloom: Bangladesh’s big next scope
The sectors cater to important items like button, zipper, thread, label, pocketing fabric, lining, interlining, elastic, cord, ribbon, rivet, toggle, collarbone, hanger, handtag, polybag, sticker, plastic clip, safety pin, and carton. The local button demand alone stood at $160 million. Accessories manufacturers are also exporting accessories to other garment-producing countries such as Pakistan, Vietnam, and Cambodia.
“The accessories sector’s contribution is huge. The accessories business can meet the local demand. Besides directly exporting $500 million worth accessories in FY2019-20, the sector’s indirect export reached $5 billion.”
MOHAMMAD MOAZZEM HOSSAIN MOTI, PRESIDENT, BGAPMEA
“If the accessories sector is given eight-year period term loan with 4% interest rate to replace the machinery – then it will greatly aid the sector and we can certainly keep pace with the era,” he told.
The sector, like any other sector, has been hit with the COVID-19 pandemic. And globally freight charge increase has hampered it. Moazzem Hossain Moti elaborated, “These barriers have greatly hampered the accessories and packaging manufacturing sector. If RMG factories cannot bring better prices from foreign brands and buyers, then it ultimately paralyzes the accessories sector.”