RMG manufacturers hopeful of grabbing potential market
Friday, 21 May 2010
FE Report
The country's RMG manufacturers are going to explore potential overseas markets in South America as a delegation is expected to visit Brazil, Mexico and Chile this month to search for buyers there, insiders of the apparel sector said Wednesday.
"We are working to diversify our export market. A delegation of ready-made garment manufacturers would go on a two-week long visit to Brazil, Chile and Mexico tomorrow (May 22)" Abdus Salam Murshedy, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said.
"We are hopeful that we would be able to grab markets for our products in those countries as we have learned that their major demand for garments will have to be met through import within a couple of years," he told the FE.
Bangladesh exports RMG products to these countries indirectly through European countries, he said adding "We have much scope to expand our market there if we can create direct sources in those countries."
"Our purpose of visiting those countries is to find direct sources," the BGMEA chief said adding that three more high-powered teams will go to explore potential markets in Australia, Turkey and New Zealand by the end of July."
Bangladesh's major garment export markets are United States of America (USA) and European countries where nearly 30 per cent and 60 per cent respectively of the total RMG is exported.
In the last financial year, Bangladesh made shipment of US$3.69 billion worth of garment products to the US market alone out of its total $12.35 billion RMG export to different destinations in the globe.
"Since the global economic downturn has hit hard the developed economies, we have been trying to tap some unexplored markets in the developing countries," Mr Murshedy said.
Brazil, Mexico and Chile are similar markets for RMG products as they do not offer any preferential treatment to the country of origin, he said.
"So, we are confident that we would be able to compete with the major apparel suppliers to the markets," the BGMEA chief said.
He said during their visit to South America from May 22 to June 2, they would sit with businessmen, trade bodies and garment buyers and provide presentation on Bangladesh's RMG products and manufacturing strengths.
The country's RMG manufacturers are going to explore potential overseas markets in South America as a delegation is expected to visit Brazil, Mexico and Chile this month to search for buyers there, insiders of the apparel sector said Wednesday.
"We are working to diversify our export market. A delegation of ready-made garment manufacturers would go on a two-week long visit to Brazil, Chile and Mexico tomorrow (May 22)" Abdus Salam Murshedy, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said.
"We are hopeful that we would be able to grab markets for our products in those countries as we have learned that their major demand for garments will have to be met through import within a couple of years," he told the FE.
Bangladesh exports RMG products to these countries indirectly through European countries, he said adding "We have much scope to expand our market there if we can create direct sources in those countries."
"Our purpose of visiting those countries is to find direct sources," the BGMEA chief said adding that three more high-powered teams will go to explore potential markets in Australia, Turkey and New Zealand by the end of July."
Bangladesh's major garment export markets are United States of America (USA) and European countries where nearly 30 per cent and 60 per cent respectively of the total RMG is exported.
In the last financial year, Bangladesh made shipment of US$3.69 billion worth of garment products to the US market alone out of its total $12.35 billion RMG export to different destinations in the globe.
"Since the global economic downturn has hit hard the developed economies, we have been trying to tap some unexplored markets in the developing countries," Mr Murshedy said.
Brazil, Mexico and Chile are similar markets for RMG products as they do not offer any preferential treatment to the country of origin, he said.
"So, we are confident that we would be able to compete with the major apparel suppliers to the markets," the BGMEA chief said.
He said during their visit to South America from May 22 to June 2, they would sit with businessmen, trade bodies and garment buyers and provide presentation on Bangladesh's RMG products and manufacturing strengths.