Apparel exports likely to fetch $50 billion in 2022: BGMEA president
He and others visited Chattogram port on Sunday to see container ship Songa Cheetah coming directly from Italy's Porto di Ravenna
The country's apparel exports are likely to fetch $50 billion in 2022, says Bangladesh Garment Manufacturers and Exporters Association President, Faruque Hassan.
"Last November and December, we exported nearly $4 billion worth of garments a month. We are hopeful we can touch the $50 billion mark this year," he told a programme in Chattogram on Sunday.
Chattogram port arranged the views exchange event to discuss different aspects of the recently opened direct shipping route between Chattogram Port and Italy's Porto di Ravenna.
Keep updated, follow The Business Standard's Google news channel
Chittagong Port Authority Chairman, Rear Admiral M Shahjahan, EU Ambassador to Bangladesh, Charles Stuart Whiteley, and Italy's Ambassador Enrico Nunziatya, among others, were present at the event.
The BGMEA president said the direct connectivity with Europe was an achievement for Bangladesh. "It would reduce business costs by 40% and cut shipment time to 16 days."
He hoped more European shipping lines would launch such services on their routes.
Mentioning that an effort to establish another direct route with the USA was underway, Faruque said Chattogram port could set more direct routes with long destinations.
M Shahjahan said the capacity of Chattogram port was on the rise. Currently, it can handle some 4.5 million twenty-foot equivalent units (TEUs) of containers, or goods worth $80 billion a year.
He added that the Patenga Container Terminal would go into operation within June this year, and another deep seaport was being built in Cox's Bazar's Matarbari.
"We will give priority to ships on direct routes for berthing," the Chattogram Port Authority official said.
Enrico Nunziatya and Charles Stuart Whiteley expressed hope that the direct shipping connectivity between Bangladesh and Italy would further enhance bilateral relations. It would also help the two countries boost trade, they believed.
The container ship Songa Cheetah reached Chittagong Port on Saturday and is set to leave for Italy's Porto di Ravenna (The Port of Ravenna) on Monday. It is the first direct commercial freight trip between Bangladesh and Europe.
