The contributions of our expatriate brothers and sisters are a cornerstone of Bangladesh’s economy. With approximately 1.5 crores of our people living abroad, their impact extends far beyond the remittances they send home. If we consider each expatriate’s family as four people, it amounts to around 6 crores of our population that directly benefits from the economic support provided by these remittances. This steady flow of funds has uplifted countless families and has been crucial in maintaining the overall economic stability of Bangladesh.
Simultaneously, the garment sector has played a pivotal role in driving our economy forward. Employing around 1 crore people, this sector has been instrumental in ensuring our export income remains robust. When considering that each worker supports a family of four, nearly 5 crores of our population rely on the garment industry for their livelihood. Since its inception in 1978, the sector has grown to become one of the largest contributors to our export economy. Together, the efforts of our expatriates and the garment industry have ensured food security and a steady income for 11 crores of Bangladeshis, making these two sectors the backbone of our nation.
Yet, despite these significant contributions, there remains untapped potential within our expatriate community. Beyond sending remittances, our expatriate brothers have the power to significantly impact our garment sector and the broader economy by acting as ambassadors and investors. Many Bangladeshi expatriates have built successful businesses abroad, gaining a reputation for their entrepreneurial skills. There is a large section among them who are highly educated and well-versed in international markets. These individuals can play a crucial role in promoting Bangladeshi products, including our versatile garments, in the countries where they reside. By taking on the responsibility of branding and marketing our products, expatriates can open new markets and increase demand for Bangladeshi goods.
Over the past five years alone, expatriates have sent nearly $105 billion back to Bangladesh, an amount that has been critical in maintaining foreign exchange reserves and supporting countless families. During the same period, the garment industry has exported goods worth approximately $200 billion, providing employment to millions and further bolstering the country’s economy. Together, these contributions have ensured Bangladesh’s steady economic progress and helped navigate global economic challenges.
However, recent events have highlighted the immense power and influence that expatriates hold in shaping the country’s future. When remittances saw a decline, the impact on the economy was immediate and significant, underscoring the crucial role these funds play. This demonstration of economic power has had far-reaching consequences, including political implications that have shaken the current regime.
If we can create a long-term plan that encourages expatriates to take an active role in promoting and selling Bangladeshi products, it could lead to a new era of growth for our garment sector. Many are already doing this on a smaller scale, but with the right support and incentives, this effort could expand significantly. The collaboration between our garment industry and the expatriate community could usher in a new dawn for Bangladesh’s economy.
This is where our policymakers and industry leaders must step in. Organizations such as BGMEA, BKMEA, and FBCCI should actively engage with the expatriate community, providing them with opportunities to act as international ambassadors for the garment sector. By doing so, we can harness the full potential of our expatriates, turning them into key players in the global market. I urge the leaders of these organizations to recognize the value of our diaspora and work towards integrating their efforts with our national economic strategies.
Yet, even as we celebrate the successes of our expatriates and the garment sector, we must not forget the remaining 6 crores of our population who continue to struggle. These individuals are an integral part of our society, and their well-being is crucial for the overall health of our nation. The disparities they face must be addressed, and solutions must be found to ensure that they too can benefit from the progress we make as a nation.
In the wake of the COVID-19 pandemic, I have personally experienced the challenges that many continue to face. The struggle for survival has made it clear that accurate information and transparency are vital for making informed decisions that affect our future. Misinformation can have devastating consequences, whether in social, economic, or family-related matters. It is our duty to ensure that the next generation has access to accurate data so they can plan and build a better future.
As someone involved in the garment industry, I feel a deep sense of responsibility to share my experiences and thoughts, despite the challenges I face. By voicing our stories and ideas, we can help others understand the complexities of our economic landscape and inspire them to strive for a more equitable future. Our progress should not be measured solely by new businesses or booming markets but by how well we support all members of our society. In conclusion, the collaboration between expatriates and local exporters is not just a strategic move but a necessary one for achieving Bangladesh’s ambitious goals. By recognizing their power and encouraging their active participation in rebuilding Bangladesh, we can set the stage for a new era of prosperity. This is not just about economic growth; it is about creating a Bangladesh where every citizen, whether at home or abroad, has the opportunity to contribute to and benefit from the nation’s success. Let us learn from the past, plan wisely for the future, and work together to create a Bangladesh where every member of our society can thrive.
Salauddin, Director, Reaz Garments, Head of Operations, Bunon
