NRBs' thrust on strengthening economic ties
Wednesday, 11 November 2009
Raihan M Chowdhury
back from Tokyo
Non-resident Banglad-eshis (NRBs) living in Japan believe Bangladesh has a very good potential to enhance the economic ties between the two countries in respect of business and manpower export.
"Uniqlo, a leading Japanese casual wear designer, manufacturer and retailer has eyed Bangladesh's garment products and they will totally stop import of RMG products from China provided Bangladesh can guarantee the shipment order on time," Mir Mosharraf Hossain, a former Bangladeshi staff of Uniqlo told this correspondent during a visit in the Japanese capital recently.
Mir Mosharraf, living in Japan since 1986 is now manager of Bubba Gump, a shrimp company of WDI Group in Tokyo.
Originally a division of Fast Retailing Co Ltd on November 1, 2005, Uniqlo Co Ltd was born of corporate restructuring, and now exists as a 100% consolidated subsidiary of Fast Retailing, which is listed on Tokyo Stock Exchange.
The company also operates in China, Hong Kong, South Korea, the United Kingdom, France, United States and Singapore.
Japanese buyers see Bangladesh as a lucrative destination for global apparel outsourcing as the country manufactures quality items at a cheap cost.
"Bangladesh urgently needs to maintain a congenial atmosphere in the RMG sector, so that the uninterupted supply line is ensured, otherwise foreign buyers like Uniqlo will not be interested to do business with Bangladesh," Rahman Md Atikur, another Bangladeshi professional living in Tokyo said.
"Japanese business culture is different than others and importers show zero tolerance to quality and timely shipment," P R Placid, another NRB living in Japan since early 1990's said.
At present there are 10,000 NRBs in Japan though the figure was 30,000 in 1990's.
"Due to strict visa requirement, the number of NRBs began to reduce from 1995 in Japan, the second largest economy in the world," Mustak Ahmed, another Bangladeshi said.
Local RMG sector experts said Bangladesh garment exports to Japan may increase to two billion US dollar within a couple of years should the country get duty-free market access to that country under relaxed rules of origin.
With over $24 billion annual imports, Japan apparel market is very much selective that demands capacity development of Bangladeshi exporters.
Japan's apparel imports crossed $24 billion in 2008 and the market is offering more as 'Under the changing market dynamics, Japanese buyers [importers] have initiated new strategy to diversify their import base, said Sachiko Akaboshi of Tokyo-based Nikkei MC Aluminium Co Ltd.
The new Japanese strategy is to shift focus from one country [China] to a number of potential countries.
In the past 2008-2009 fiscal year, Bangladesh exported $74 million worth garments to Japan and the year-on-year shipment growth was double.
The recenly held 20th BATEXPO, the largest annual apparel exhibition in Dhaka also observed the sentiment that many foreign entrepreneurs now plan either relocation of their factories or venturing into joint business here. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organised the three-day fair. A total of 62 companies from home and abroad participated in 86 stalls.
Bangladesh exported $5.918 billion woven garment and $6.429 billion knitwear products in 2008-09 fiscal year, the Export Promotion Bureau (EPB) data said.
back from Tokyo
Non-resident Banglad-eshis (NRBs) living in Japan believe Bangladesh has a very good potential to enhance the economic ties between the two countries in respect of business and manpower export.
"Uniqlo, a leading Japanese casual wear designer, manufacturer and retailer has eyed Bangladesh's garment products and they will totally stop import of RMG products from China provided Bangladesh can guarantee the shipment order on time," Mir Mosharraf Hossain, a former Bangladeshi staff of Uniqlo told this correspondent during a visit in the Japanese capital recently.
Mir Mosharraf, living in Japan since 1986 is now manager of Bubba Gump, a shrimp company of WDI Group in Tokyo.
Originally a division of Fast Retailing Co Ltd on November 1, 2005, Uniqlo Co Ltd was born of corporate restructuring, and now exists as a 100% consolidated subsidiary of Fast Retailing, which is listed on Tokyo Stock Exchange.
The company also operates in China, Hong Kong, South Korea, the United Kingdom, France, United States and Singapore.
Japanese buyers see Bangladesh as a lucrative destination for global apparel outsourcing as the country manufactures quality items at a cheap cost.
"Bangladesh urgently needs to maintain a congenial atmosphere in the RMG sector, so that the uninterupted supply line is ensured, otherwise foreign buyers like Uniqlo will not be interested to do business with Bangladesh," Rahman Md Atikur, another Bangladeshi professional living in Tokyo said.
"Japanese business culture is different than others and importers show zero tolerance to quality and timely shipment," P R Placid, another NRB living in Japan since early 1990's said.
At present there are 10,000 NRBs in Japan though the figure was 30,000 in 1990's.
"Due to strict visa requirement, the number of NRBs began to reduce from 1995 in Japan, the second largest economy in the world," Mustak Ahmed, another Bangladeshi said.
Local RMG sector experts said Bangladesh garment exports to Japan may increase to two billion US dollar within a couple of years should the country get duty-free market access to that country under relaxed rules of origin.
With over $24 billion annual imports, Japan apparel market is very much selective that demands capacity development of Bangladeshi exporters.
Japan's apparel imports crossed $24 billion in 2008 and the market is offering more as 'Under the changing market dynamics, Japanese buyers [importers] have initiated new strategy to diversify their import base, said Sachiko Akaboshi of Tokyo-based Nikkei MC Aluminium Co Ltd.
The new Japanese strategy is to shift focus from one country [China] to a number of potential countries.
In the past 2008-2009 fiscal year, Bangladesh exported $74 million worth garments to Japan and the year-on-year shipment growth was double.
The recenly held 20th BATEXPO, the largest annual apparel exhibition in Dhaka also observed the sentiment that many foreign entrepreneurs now plan either relocation of their factories or venturing into joint business here. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organised the three-day fair. A total of 62 companies from home and abroad participated in 86 stalls.
Bangladesh exported $5.918 billion woven garment and $6.429 billion knitwear products in 2008-09 fiscal year, the Export Promotion Bureau (EPB) data said.