Veltex Corporation (VLXC)

[Growth And Value]

US assistance for RMG sector growth sought
Chittagong Bureau
CHITTAGONG, Feb 27:–Minister for Commerce Air-Vice Marshal (Retd) Altaf Hossain Chowdhury said here yesterday that the ready-made garments (RMG) had become the largest contributor to the national economy sharing 76 per cent of the export earnings.
He said that the garment factories had not only earned foreign exchange but also created employment for the backward segment of the society.
He was addressing as the chief guest at the inaugural ceremony of the Chittagong Apparel Fabric & Accessories Exposition (CAFAXPO) 2005 held at city’s CJKS indoor stadium this morning.
President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Annisul Huq presided over the function.
He sought all-out cooperation from the US envoy in Dhaka Harry K Thomas Junior for attaining duty-free access of Bangladeshi garment products in his country.
He hopped that the manufacturers and exporters including representatives of buyers would benefit from their participation in the CAFAXPO-2005.
While addressing as the special guest the US Ambassador to Dhaka Harry K Thomas junior said that only this business, the backbone of the national economy, could change the Bangladesh in a positive fashion.
Appreciating the emerging sector he said that the garments industry had created job market for women all over the country and changed the earning power of countless families in this country.
He added that the United States government would stand by the local business leaders in promoting the rule of law, transparency and infrastructure development.
He also said that a Trade and Investment Framework Agreement (TIFA) between Bangladesh and the United States would soon be signed that may gives a forum for sharing trade information, explore and address the scopes and hindrances.
“I’m eagerly awaiting to see Bangladesh’s continuous progress during my tenure here,” he added.