CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
Bangladesh should go for high-end apparel
Bangladesh should focus more on value added, high-end apparel items rather than basic, traditional products to make the business sustainable amidst the fierce competition in the global garment trade, a group of European garment buyers said yesterday, the daily Star reported.
The report added that the European fashion market is rebounding as the retail sales of garment items have been increasing by 3-4 percent year-on-year over the last few years, the retailers said.
Thrust on producing value-added RMG items to woo more buyers
Participants at a trade show in Dhaka have stressed production of value-added readymade garment (RMG) products to woo further buyers with good price and sustainable business, the Financial Express reported.
They came up with the observation at a day-long buyers’ and sellers’ meeting of retailers and manufactures hosted by the Dutch Ministry of Foreign Affairs in collaboration with the Bangladesh Garment Manufacturers’ and Exporters’ Association (BGMEA) in the city on Monday, the report added.
Cotton produced in Bangladesh meets only 3pc RMG demand
Bangladesh produced 0.16 million bale fiber cotton in 2016-17 fiscal and the production of cotton is increasing every year, the Financial Express reported.
The report said that this was disclosed by Agriculture Minister Begum Matia Chowdhury at the Parliament Sunday.
Citing a source, the report said that at present Bangladeshi produced cotton meets only 2-3 per cent of the garment industry’s demand.
To meet the growing demand of the garment industry, currently the government has to spend around $4.5 billion a year to import cotton, it added.
