The government of Bangladesh undertook significant steps during the 1980s. Consequently there was a tremendous increase in the export of ready-made-garments and knitwear, which garnered maximum foreign exchange for the country. Cheap labor and low conversion costs are the major factors behind the growth of Bangladesh’s garment industry.
Over 3 million Bangladeshis are employed in this industry. The country is an active partner of the Asia Pacific Trade Agreement( APTA) and the World Trade Organization (WTO). A number of export processing zones have been set up by the government to enhance economic growth by attracting foreign investment.
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