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Standard RMG export to cross $145m this year

Refayet Ullah Mirdha
Standard Group, one of the country's leading ready-made garment (RMG) manufacturing companies, said its export will increase by more than 10 percent this year exceeding USS 145 million.
Behind the export surge has been increased demand from the US, Canada and the European Union with sales of trousers and skirts doing particularly well.
The group, having more than 10 factories, exported apparels worth $130 million in the last fiscal, Managing Director of Standard Group Mosharraf Hussain said yesterday.
"Every year we have a target to increase the export by 10 percent. In the coming year the export might grow more than 10 percent as the trend of placing orders by buyers is still high,” Mosharraf Hussain said.
He said since the woven and sweater production of his group has been maintaining a steep rise over the last few years, the company will now focus on establishing spinning mills to source yarn from its own mill.
“I have a plan to set up a spinning mill soon probably this year or in the next year. Now I import most of the raw materials mainly from China, India, Pakistan and Korea,” he said.
Chief of the group said higher competition from other countries like China, Vietnam and India contributed to a reduction of profit margin in the global RMG markets, although buying orders in Bangladesh have been increas-
ing.
He declined to comment on his company's profit margin and total investment of the group.
Mosharraf Hussain said Standard Group strives to maintain its position as one of the
major players in the country's RMG industry.
However, he warned of a future bottleneck in production due to the lack of skilled workers.
Investors in the sector said the country's position in the global RMG market has strengthened due to the recent appreciation of Chinese currency against the US dollar and political turmoil in Pakistan.
When asked, Mosharraf Hussain said Bangladesh receives more orders, compared with those of other countries, as the country produces average value added items whereas China, the largest RMG supplier in the world, produces high value added items.
He said the recent apprecia-tion of Chinese currency against the US dollar would contribute to the growth of RMG sector in Bangladesh as buyers can hardly make profit out of high-vale added items.
"At present, majority of the apparel products of his factories are manufactured according to the designs supplied by
the buyers,” Mosharraf Hussain said, adding that he has a plan to open a design house for developing new designs and fashion.
He said, gas rationing in the factories was a wrong decision of the government as the sector uses gas as its primary source of energyr.
Standard Group is one of the main suppliers of school trousers and dresses to British stores in UK.
The company, employing 25,000 workers, has been supplying school dresses in the UK market over the last few years. The group’s other products include shirts, trousers, sweaters and women's wear.
USA based GAP and Sears and Europe based ASDA are the major buyers of the group.
reefat@thedailystar.net