Myanmar can be a potential market for Bangladesh garment accessories

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Sonia H Moni Myanmar can emerge as a potential market for Bangladesh's apparel accessories and packaging products, with the readymade garment industry in the neighbouring country developing fast, industry players said. The country's apparel accessories and packaging manufacturers and exporters have sought close cooperation of the Ministry of Foreign Affairs (MoFA) to further push up the growth of the products. "The yearly growth rate of our apparel accessories and packaging sector is 10 per cent since last five years," Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) President told the FE: He said: "We are facing a setback due to economic recession in the European Union and the USA. The EU states are main destination of the local exporters. EU nations consume nearly 50 per cent of the Bangladeshi garment accessories and packaging products." "So we have to search new destinations for the sake of development. Myanmar can be a potential destination for the apparel accessories and packaging products of Bangladesh," he said. The accessories makers directly export only 15 per cent of the sector's total products while rest 85 per cent are exported with other exportable items like readymade garments, frozen food, pharmaceuticals etc" The country's backward linkage industry makes around 35 items including button, carton, package, elastic, drawstring, embroidery, interlining, label, padding, poly bag, sewing thread, zipper, plastic items, back board, neck board, gum tap, bar code and so on. Mr Chowdhury said: "We can increase the volume of direct export of apparel accessories and packaging products if the government gives policy support to the industry." "The commercial councilors of Bangladesh in foreign missions can play a significant role for searching new destinations for apparel accessories and packaging sector through disseminating information about the materials to different foreign trade bodies." BGAPMEA President said: "We have a plan to expand our export market to the South Asian countries gradually. The Export Promotion Bureau can also help the apparel accessories makers through creating scope to attend fairs in different countries." The country's manufacturers exported apparel accessories and packaging products worth US$ 1.85 billion in the first six months (July-December) of the current fiscal year which is $0.20b up from the same period in fiscal year 2011-2012. The BGAPMEA has set a target of exporting apparel accessories and packaging products worth US$ 4.5 billion in the fiscal year 2012-13.