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Devise plan to face impact of economic crisis: CA

UNB, Dhaka
Chief Adviser Fakhruddin Ahmed asked RMG leaders on Monday to devise a strategy and explore new markets to face the possible impact of the global economic crisis.
He said the US and Europe are the major markets for Bangladesh's readymade garments (RMG), but now they are experiencing an economic meltdown.
Referring to the apprehension of many that the crisis may hit Bangladesh, Fakhruddin said the country’s apparel sector is a sector that overcame many adverse situations in the past and it would be able to do so this time too.
The head of the caretaker government made the call and the remarks while inaugurating the three-day 'Bangladesh Knitwear Exhibition 2008' organised by Bangladesh Knitwear Manufacturers and
Exporters Association (BKMEA) at Dhaka Sheraton Hotel.
The export-oriented knitwear sector is the country's single largest foreign currency earner. The sector earned $5.5 billion last year and has a target to earn $6.58 billion this year, the function was told. The BKMEA was set up in 1996 and now it has been the forum of 1,500 knitwear manufacturers and exporters.
LGRD Adviser M Anwarul Iqbal, Commerce Adviser Hossain Zillur Rahman and BKMEA first vice-president Abdur Rashed also spoke at the function, chaired by BKMEA President M Fazlul Hoq.
Other business leaders, diplomats, entrepreneurs and buyers were present at the function.
The CA said there is no option but to increase productivity to survive the present competitive market and emphasised building skilled
human resources and setting up training centres. "Training for building and grooming skilled workers is one of the keys to boosting output."
He, however, expressed happiness knowing that the BKMEA and others have taken steps, including setting up of a Workers Training Centre, for imparting training for creating efficient workers.
Fakhruddin said attention has not been paid to developing human resources, in contrast to capital investments.
He hoped that the RMG leaders would give more attention to it and called upon all concerned to take steps through government-private joint initiatives in this regard.
The CA also suggested giving attention to producing high value products as well as to finding out ways to improve the quality of production, and assured of all-out government cooperation in this regard.