Exports to China rising fast

[scholseys]

Bangladeshi Chinese food and Chinese Chinese food shares nothing in common when it comes to taste, only the name is similar.

 

[my2cents]

It is still low comparing to what you guys export to Europe. Since 75 % of your exports consist of ready made garments which China itself is a big exporter, you need to add value to your export basket if you want to keep up the momentum. Once duty free regime comes to end you will have to compete against big players.

Is your politicians thinking about your future?? I see no vision and your textile industry is in disarray with safety issues, child labor and buildings code violations etc.

 

[Bamboo Castle]

Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13
Sohel Parvez

Exports to China rising fastThe country’s exports to China are fast growing, thanks to the zero-tariff access extended in July 2010.
Currently, Bangladesh, as a least-developed country (LDC), gets duty free and quota-free entry for 4,788 products to the Chinese market, which, according to Bangladesh Tariff Commission, is 67 percent of the country’s export basket.
Exports to the world’s second largest economy stood at $178.63 million in fiscal 2009-10, the year before the duty privilege was extended. It shot up to $319.66 million in the following year, according to data from Export Promotion Bureau (EPB).
In fiscal 2012-13, exports to China stood at $458.11 million, up about 14 percent year-on-year.
“The growing export is a good sign. It means that confidence is building among Chinese buyers about Bangladeshi products,” said Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association.
The popular export items to China include readymade garments and textiles, fish and crabs, leather and leather goods, jute and jute yarn, plastic waste, according to EPB data.
“But the amount of export earnings is meagre given the huge Chinese market. Both the public and private sectors have to take the initiative to widen the market scope,” Hoque said.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, said securing a good portion of China’s $310 billion apparel market would reduce the dependency of the garment sector, the main export earner, on Europe and the US.
“We are very optimistic that China will be our next market.”
Mustafizur Rahman, executive director of Centre for Policy Dialogue, said the zero-duty access has enhanced the competitiveness of Bangladesh’s products in the Chinese market.
“However, save for a small number of products, we are yet to reap the full benefits of China’s duty-free and quota-free scheme,” he said, while suggesting efforts to scale up exports of products other than garments.
Foreign investments targeting the Chinese market will also be helpful in boosting exports to China.



Exports to China rising fast - Shipments to China rose 14pc year-on-year to $458.11m in fiscal 2012-13

This is great news for both Bangladesh and China. our bilateral relation is improving beyond every assumptions. This is good. My greetings to all the Chinese brothers and sisters in PDF.

 

[PlanetSoldier]

I heard Bangladeshis like to eat a lot of fish? We are crazy about fish as well, especially in the coastal areas. In fact all East Asians are crazy about fish.

Fish is good for your brain too, lots of Omega 3 fatty acids. The best thing for cognitive development.

There are differences in the fish that East/South-East Asian people eat...our favorite is sweet water ones while they love sea fish. Bangali people can't eat sea fish that much because it has sort of smell they're not accustomed with .

 

[damiendehorn]

China is our most trusted partner, unlike other nations they actually abide by their promises, and have our best interests at heart. Thanks China, hope your your nation will greatly increase investment in light engineering in our country and help us diversify our industries.

 

[damiendehorn]

It is still low comparing to what you guys export to Europe. Since 75 % of your exports consist of ready made garments which China itself is a big exporter, you need to add value to your export basket if you want to keep up the momentum. Once duty free regime comes to end you will have to compete against big players.

Is your politicians thinking about your future?? I see no vision and your textile industry is in disarray with safety issues, child labor and buildings code violations etc.

Please drop the crocodile tears, our garment exports have been expanding nonstop, in fact we out compete you guys by a fair margin. Garments exports still have a lot more expansion, and now we are looking to diversify and build on other sectors like light engineering, services, Agro and shipbuilding etc.

The facts are as it becomes more expensive to assemble in china due to rising wage costs, Chinese, Korean and other international companies are looking at Bangladesh as one of the next centres of production. Still a decade or so away but we will get there.

 

[my2cents]

Please drop the crocodile tears, our garment exports have been expanding nonstop, in fact we out compete you guys by a fair margin. Garments exports still have a lot more expansion, and now we are looking to diversify and build on other sectors like light engineering, services, Agro and shipbuilding etc.

The facts are as it becomes more expensive to assemble in china due to rising wage costs, Chinese, Korean and other international companies are looking at Bangladesh as one of the next centres of production. Still a decade or so away but we will get there.

Sure with subsistence level wages sure you can reach the top. But expect lot of hiccups along the way. None of the top exporters in the world provide living wages including China and India. China is on par to reach living wages in another decade as their wages are growing rapidly.

Average hourly wage for garment workers:

Bangladesh $.24
Cambodia $.45
Pakistan $.52
Vietnam $.53
India $.55
China $1.26