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
Potential of new markets untapped
The potential of export to non-traditional markets has remained untapped for lack of preparation on the part of the government and the exporters and diversification of products, New Age reported.
Despite huge potential to gain more share in the markets, Bangladesh exports apparels to the destinations only 5 per cent of the demand, the report added.
Rising apparel exports to China a sign of new opportunities
Riding on a duty-free trade privilege, Bangladesh’s garment export to China increased 14.77 percent year-on-year to $391.59 million in fiscal 2016-17, something exporters are seeing as a sign that new opportunities are awaiting, the Daily Star reported.
China, the global leader in apparel business, has turned into a major export destination for Bangladesh because of its huge population with a growing section of middle-income households, the report added.
Deshbandhu to set up garment factory in Uttara EPZ
Deshbandhu Textile Mills, a member of Deshbandhu Group, a leading corporate house in Bangladesh, will set up a garment factory in Uttara Export Processing Zone (EPZ) in Nilphamari, part of Rangpur division in Northern Bangladesh, Fashion2Fibre reported.
Deshbandhu has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) for setting up the factory, the report added.
Will Bangladesh win back GSP by investing in US?
The country’s top business leader wants Bangladesh to invests in the US cotton sector as it seeks a return to the generalised system of preference (GSP) after a four-year hiatus, Dhaka Tribune reported.
Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Shafiul Islam Mohiuddin said his proposal would see Bangladeshi firms manufacture garment products for the US market using the country’s own cotton, the report added.
