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Clothing manufacture underpins impoverished Bangladesh's industrial activity, accounting for 80 percent of overseas sales and pulling in 11 billion dollars a year.

At the start of Bangladesh's financial year in July, garment exports were up 72 percent from a year earlier, but by February growth had slowed to four percent year-on-year as orders from Western retailers evaporated.

"The whole economy can unravel if garment exports continue to slow down as many other sectors such as transport, services and construction are directly dependent on this sector," said Masato Miyazaki, an IMF adviser on Bangladesh.

Sheikh Hasina said the strategically important locations of Bangladesh's two important seaports-Chittaong and Mongla- is crucial for development of the countries in this region. "We can construct a deep-sea port side by side with modernising the existing two to create opportunities for the neighbouring countries like Nepal, Bhutan, India and China, she said adding these seaports would play a significant role in the country's economy".

Sheikh Hasina put emphasis on information technology (IT) and said her government had given priority to this sector while in power in the past and encouraged setting up of radio, television channels in the private sector apart from breaking monopoly in mobile phone business which created the scopes for massive employment.

Describing huge prospects of developing waterways in the country, she said initiatives would be taken to modernise the railway and waterways side by side with the road linkages.

The new-generation internal communications are planned attuned to the fast-moving external world as the prime minister expressed her desire to build Bangladesh as a ‘Bridge between the East and the West.’   The major plans laid out by the prime minister are linking Bangladesh with the Asian Highway and the Trans-Asian Railway, constructing elevated expressway on Tongi-Gazipur-Narayanganj route, introducing commuter train service between the capital city and adjacent districts, setting up rail line from Chittagong to the resort town of Cox’s Bazar, underpass in Dhaka, creating a ring-road surrounding the city, modernising Chittagong and Mongla seaports.

Describing the Chittagong and Mongla seaports as the two big assets of the country, the premier said if the two ports could be modernised and a deep-sea port set up, potential of use of the ports by neighbouring countries like Nepal, Bhutan, India and even China will be created.   ‘We want to build up Bangladesh as the bridge between East and West hemispheres of the world,’ she told the meeting.   ‘Already we have decided to construct elevated roads on the Tongi-Gazipur-Narayanganj route and introduce commuter train service between Dhaka and its adjacent districts to ease the traffic congestion and overcrowds in the capital city,’ she said.

Hasina said country’s waterways and railways need to be developed so lower-income people can use these paths for communications at cheap rates.   The premier asked the ministry officials to think how the railways and waterways could be upgraded and made more effective means of travels.   Hasina informed the meeting about the government’s another plan to set up rail line from Chittagong to Cox’s Bazar to directly link the town of scenic beauty with the capital city, Dhaka, for cheaper movement of holidaymakers from home and abroad.

The annual growth in the number of workers leaving Bangladesh for overseas jobs slowed sharply to 5.1 percent in 2008 compared to 118.2 percent in 2007.Among the major destinations for overseas employment, new jobs for Bangladeshi workers in Saudi Arabia fell by 35.3 percent in 2008. Kuwait has reduced hiring Bangladeshi workers since late 2006. In 2008 new jobs for Bangladeshi workers in Kuwait fell by 92.4 percent and in Bahrain by 19.8 percent.New job opportunities also declined in 2008 in Malaysia by 51.8 percent and in Brunei by 11.1 percent on economic downturn.The recession is also badly affecting new Bangladeshi job seekers in Europe. Jobs fell by 36.7 percent in Italy and 2.1 percent in the UK in 2008.Job opportunities however grew by 202.6 percent in Oman, 85.2 percent in the UAE, 68.9 percent in Qatar and 47.6 percent in Singapore.The central bank officials' forecast indicates a lower remittance inflow in the next few months as a significant number of workers returned home.

According to the latest revisions by the World Bank, India, China and Mexico retain their position as the top recipients of remittances among developing countries. The top 10 recipients list also includes Philippines, Poland, Nigeria, Romania, Egypt, Bangladesh and Pakistan.