China explores potential of Bangladesh RMG sector.


Md.-Shafiul-Islam

Several Chinese members have visited Bangladesh in the recent past, to discover the impending clothing industry (RMG) in the country.

 Interview with fibre2fashion, said Mr MD. Shafiul Islam, President of Bangladesh garment manufacturers and exporters Association (BGMEA), “different groups and Chambers on behalf of the Chinese textile and garment sector of Bangladesh in the recent past have visited.”

 He adds that “In fact, a team of representatives from a Chinese Chamber of commerce visited us this week back and try these teams who postponed clothing by the sector of Bangladesh to explore”.

 According to him, Bangladesh is the main destination for clothing buyers of the world market. “Bangladesh were the history of the production of the cargo on time and the quality, deliver a dedicated entrepreneurship”, he called.

He says that talk about the power of the apparel industry in Bangladesh, “but there are several problems, such as the lack of gas, electricity and infrastructure, staff is our greatest power.”

“We have a vibrant population with 76 percent of people younger than 40 years and the key to our success is this demographic,” he continues.

Garment Exports from Bangladesh is Ricing…….


1

Bangladesh apparel exports have increased, while exports of clothing from India to show a trend downward.

Bangladesh Garment exports increased by 8.8% over the year to US $1.36 billion in November 2012, according to the information published by the export promotion Bureau (EPB). These extracted woven garment exports US $710,04 million, while knits earned US $653,96 million.

Bangladesh posted a positive growth of exports of vehicle in the middle of the debt crisis in several European countries, traditional buyers of Bangladesh Garment.

In the first four months of the current fiscal 2012-13 Bangladesh, woven and knitted apparel exports increased 16 percent on year to more than US $6.6 billion.

In the evaluation, the India clothing export decreased by 0.75% year on year to US $907 million in October 2012, figures which can be obtained, depending on the Apparel Export Promotion Council (AEPC).

The India vehicle exports through the first seven months of the fiscal year Indian 2012-13 has also decreased by 9.1 percent the year last to reach SU 7,133 billion dollars.

ECHA attributed the decline in exports to the financial crisis in Western Europe, the United States and Canada, in addition to hard tanks of Bangladesh and Viet Nam on the US market and the Turkey in the EU.

Ready-made garment industry in Bangladesh.


Bangladesh-garments

Bangladesh textile sector actually grew tremendously after 2004 and reached an export turnover of US$10.7 billion in FY 2007. Bangladesh’s export trade is dominated by the RMG industry. The sector currently employs 2.5 million people—about 40% of total manufacturing (85% of these employees are women)—and accounts for 76% of the country’s export earnings and 10% of its GDP.

Bangladesh was the sixth largest exporter of apparel in the world after china,the EU,Hong Kong,Turkey and India in 2006.[citation needed] In 2006 Bangladesh’s share in the world apparel exports was 2.8%.The US was the largest single market with US$3.23 billion in exports, a 30% share in 2007. Today, the US remains the largest market for Bangladesh’s woven garments taking US$2.42 billion, a 47% share of Bangladesh’s total woven exports. The European Union remains the largest regional destination – Bangladesh exported US$5.36 billion in apparel; 50% of their total apparel exports. The EU took a 61% share of Bangladeshi knitwear with US$3.36 billion exports. Currently Bangladesh is now second largest ready made garments manufacturer after china, by the next five years Bangladesh will become largest ready made garments manufacturer.

Bangladesh garment export development “facing challenges”


2009-01-23__b06Bangladesh must address a number of challenges if it is to continue current strong development in garment exports, according to a new report from The World Bank.

Shortcoming in trade logistics, skill shortage and the require to fulfill with government labor standards could all hamper future development in garment exports from the Asian country, says the report, ‘Consolidating and Accelerating Exports in Bangladesh.’

It suggests that better export diversification beyond clothing is needed – garments account for more than 75% of Bangladesh’s exports – but adds that, still in the garment industry, export increase is not to be taken from established.

Bangladesh is deeply dependent on exports make driving in the manufacturing division, to afford high efficiency and high-income jobs – all envisioned in the country’s Sixth Five-Year preparation.

Lead country economist at The World Bank, Sanjay Kathuria said: “While China’s wage growth presents main opportunities for countries with less costly labor, Bangladesh will need to beat significant bottlenecks to make sure that its exports keep on to grow at the pace seen over FY05-10, when dollar exports almost doubled,”

The World Bank said the sooner export increase would be “critical” to Bangladesh achieving the rank of growth required to reach its ambitious goal of appropriate a middle-income country by 2021.

“The garments sector of Bangladesh has grown-up remarkably and captured a rising share of the world market,” The World Bank said.

“But development in exports cannot be taken for granted. Second only to China, Bangladesh’s garment exporting sector will need to participate with the impact of an already huge base and major market share in key markets.”

Exports can grow quickly, the report suggests, but only if “critical bottlenecks” are addressed – the first of which is the provision of successful trade logistics.

Improvements in this region would give the country a “competitive frame”, ensuring that exports and imported input goods are shipped on time, economically and reliably.

Better connections, enhanced customs dealings, better air shipment ability and better rail services could reduce lead times to complete an order by up to 21 days, the report estimates, still if raw materials are sourced from out of the country.

In the meantime, it warns that Bangladesh’s skills gap is “increasingly visible in all manufacturing sectors, and maybe more so in the garment sector”, where it reports a high refusal rate for final goods.

Finally, the details highlight the importance of industry complying with the Bangladeshi government’s labor and building standard – an ever further main issue as the country attempts to move into higher-value garment exports.

Investigate the need for the government to work closely & directly with industry to make sure standards are correctly implemented, The World Bank said firms might also require support to rearrange factories out of residential areas and into purpose-built facilities with safer working environment.

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Liton

Musfequr Rahman Liton

This Webpage is published with very formal information about present situation of RMG sector in Bangladesh. After passing many years, what’s situation of this most foreign currency earning sector?  Will we save our economical backbone?


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