Bangladesh apparel makes gains in Japan, but amount still small
Friday, 18 December 2009
FE Report
Bangladesh is making in-road into the Japanese clothing market as retailers from the world's second largest economy look for new import destination ending their over-reliance on Chinese goods, the outgoing JETRO chief said Thursday.
Tomohiro Kinomoto, head of Japanese External Trade Organisation, told the FE that Bangladeshi apparel had impressed with their price competitiveness, but the companies here must excel in quality if they were to make big gains in the far eastern country.
"Since last year, Japanese companies have become increasingly interested in Bangladeshi garments. They are now buying directly from the garment companies here," Kinomoto said.
He said largest Japanese clothing retailer Uniqlo has set up a full-fledged buying house in Dhaka last September while top officials of dozens of other companies have visited local garment plants to place orders or explore opportunities.
Thanks to their increased presence, Japanese retailers imported US$ 22 million worth or knitwear - up three times year-on-year -- and $54 million worth of woven garment products - up two and a half times year-on-year-- in the 2008-9 fiscal year.
Kinomoto said the growth showed that Bangladeshi products were very much in Japanese retailers' rudder, although the amount of export was still less than one per cent of Dhaka's total garment shipments.
"It's only 0.66 per cent of Bangladesh's apparel export," which was $12.3 billion last year, he said, adding the shipments in the current fiscal year could hit 200 million dollars, or 1.5 per cent of Bangladesh's total garment exports.
Bangladesh is making in-road into the Japanese clothing market as retailers from the world's second largest economy look for new import destination ending their over-reliance on Chinese goods, the outgoing JETRO chief said Thursday.
Tomohiro Kinomoto, head of Japanese External Trade Organisation, told the FE that Bangladeshi apparel had impressed with their price competitiveness, but the companies here must excel in quality if they were to make big gains in the far eastern country.
"Since last year, Japanese companies have become increasingly interested in Bangladeshi garments. They are now buying directly from the garment companies here," Kinomoto said.
He said largest Japanese clothing retailer Uniqlo has set up a full-fledged buying house in Dhaka last September while top officials of dozens of other companies have visited local garment plants to place orders or explore opportunities.
Thanks to their increased presence, Japanese retailers imported US$ 22 million worth or knitwear - up three times year-on-year -- and $54 million worth of woven garment products - up two and a half times year-on-year-- in the 2008-9 fiscal year.
Kinomoto said the growth showed that Bangladeshi products were very much in Japanese retailers' rudder, although the amount of export was still less than one per cent of Dhaka's total garment shipments.
"It's only 0.66 per cent of Bangladesh's apparel export," which was $12.3 billion last year, he said, adding the shipments in the current fiscal year could hit 200 million dollars, or 1.5 per cent of Bangladesh's total garment exports.