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Star Business Report
Tue Nov 15, 2022 08:25 AM Last update on: Tue Nov 15, 2022 08:27 AM
The Middle East region is going to be a major export destination for Bangladesh's garments as local apparel manufacturers are receiving a lot of queries from buyers in the region.
The presence of Bangladeshi garment items is still sparse in the entire Middle East region.
A few buyers, even ones from Iraq, have come to the Made in Bangladesh Week 2022, said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
This is a good sign for Bangladesh in its attempts at grabbing a bigger market share of the Middle East, he said.
Bangladesh has been trying to expand its market globally as nearly 90 per cent its garment export is confined to the European and North American region.
So, in the roadmap of the BGMEA for the next 15 years, Middle Eastern and other potential Asian countries are considered as the export destinations for the country, said Hassan.
A few buyers, even ones from Iraq, have come to the Made in Bangladesh Week 2022, said Faruque Hassan, president of BGMEA
He was inaugurating Dhaka Apparel Expo at International Convention City, Bashundhara in Dhaka.
Regarding recent challenges and garment trade, Hassan said the international retailers and brands are coming back here with a lot of work orders.
This is a result of local suppliers continuing to supply goods even amidst the pandemic which boosted confidence on Bangladesh, he added.
The global energy crisis has also been affecting the local garment industry but it is temporary as everybody is trying to fix the problem, he said.
There is no crisis of dollars for the garment sector as they can open letters of credit for importing raw materials, he added.
Factory owners are also trying to solve the energy crisis installing solar panels and the local apparel suppliers are earning more than what was being spent importing raw materials, so there is no crisis of dollars in the garment sector, Hassan also said.
Cem Altan, president of International Apparel Federation, said Bangladesh already has the highest number of green garment factories worldwide as global fashion trends have changed a lot over the last few years.
Although fast fashion continues its domination globally, slow fashion is also needed, he said.
However, Bangladesh needs better prices from international retailers and brands. Because growing business without profit is not good, he said.
Mostafiz Uddin, managing director of Bangladesh Apparel Exchange, said he received a lot of positive responses from local and international players of the garment sector at the show.
The show mainly indicates the strength of the country's garment sector as a lot of local and international retailers and brands are displaying their goods even at this time of global and local crises, he said.
The recovery of the inflow of work orders will also take place for such a mega event being held at this time of crisis, he said.
Apart from Bangladesh, companies from China, Germany, India, Italy, Japan, Pakistan, San Marino, Singapore, Spain, Turkey, Vietnam, the US, Hong Kong and France are participating at the show.
The BGMEA and Bangladesh Apparel Expo are jointly organizing the weeklong events to showcase the strength of the country's textile and garment sectors.