Non-cotton export market worth $20b awaits us

[Black_cats]

Non-cotton export market worth $20b awaits us

BANGLADESH
Faruque Hassan
04 August, 2021, 10:55 pm
Last modified: 04 August, 2021, 11:07 pm

Non-cotton export market worth $20b awaits us

We are working with the government for setting up an innovation and design centre that will help diversify the apparel export basket. If we can boost the production of non-cotton man-made fibre (MMF) items, it will unlock endless potentials for Bangladesh as the MMF products have been dominating...

www.tbsnews.net

Faruque Hassan. Illustration: TBS

Faruque Hassan. Illustration: TBS

We are working with the government for setting up an innovation and design centre that will help diversify the apparel export basket.

If we can boost the production of non-cotton man-made fibre (MMF) items, it will unlock endless potentials for Bangladesh as the MMF products have been dominating the global market for the last couple of years.

The MMF products now hold about 70% of the global apparel market as Bangladesh's production is still walking in just the opposite direction. Cotton-based items account for 70% of our export, while non-cottons are only 30%.


The non-cotton market is ready; we just need to grab it. But since the MMF industry is very capital-intensive, we need government support to establish a stronghold in non-cotton manufacturing.

If the government incentivises MMF product-making, we will be able to add another $20 billion export to the non-cotton categories within the next five year.


Large-scale investments enable Chinese MMF industry to be very cost effective, and they have emerged as a major player in the international MMF market. Being the close neighbours to China, Vietnam and Cambodia are also getting the investment benefits.

In our country, a number of garments have already expanded their capacity on non-cotton items. Our production units are ready, our workers are skilled, we now need the government to stand by us for a jumpstart that promised an additional $2 billion export to our current clients this year.


The government has been providing apparel makers with cash incentives since 2009 for their exports to newer markets. The support has met with satisfactory outputs as our market share edged up to 17%.

The BGMEA has plans to explore apparel markets in China, India, Japan, Korea, Russia and Mildest once the pandemic situation improves. Besides, the Maldives has potentials for tourism apparels and traditional clothes too. Singapore and Malaysia also can be two key export destinations for Bangladeshi products.

Faruque Hassan is the president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA)

Non-cotton export market worth $20b awaits us

We are working with the government for setting up an innovation and design centre that will help diversify the apparel export basket. If we can boost the production of non-cotton man-made fibre (MMF) items, it will unlock endless potentials for Bangladesh as the MMF products have been dominating...

www.tbsnews.net

 

[mb444]

This is the future and BD needs to grab this opportunity.

There is two advantage here.... we can manufacture the raw material at home and thus increase value addition and secondly we can remove our dependence on cotton import particularly from india and thereby reduce the trade gap with an ever protectionist india.

 

[bluesky]

There seem to be many ifs in the feature.

 

[mmr]

BD underwear producers have 30 years to develop man made fiber they didn't ...now whining about it.

Vietnam start it lot later and already market dominant. apart from garments Vietnam also beat BD almost every other sector. despite have lot smaller population.

Only talk and discussion same shit again and again. BD garments makers wont survive long with outdated cotton items..

 

[bluesky]

Only talk and discussion same shit again and again. BD garments makers wont survive long with outdated cotton items..

The demise will start when countries like Laos, Cambodia, Ethiopia, Eritrea, and Ghana become the garments hub for the western market.

Note that Vietnam buys cotton from China. When the Chinese labor costs rise, it is possible for many Chinese companies to build workshops in Vietnam and re-export their products to China as well as to their western market where they are dominant.

So, China and Vietnam will become a joint team for garments industries at least for the next decade while BD-India cannot be a team. Who can team up with that idiotic India although BD buys a huge amount of Indian cotton?

 

[mmr]

The demise will start when countries like Laos, Cambodia, Ethiopia, Eritrea, and Ghana become the garments hub for the western market.

Note that Vietnam buys cotton from China. When the Chinese labor costs rise, it is possible for many Chinese companies to build workshops in Vietnam and re-export their products to China as well as to their western market where they are dominant.

So, China and Vietnam will become a joint team for garments industries at least for the next decade while BD-India cannot be a team. Who can team up with that idiotic India although BD buys a huge amount of Indian cotton?

BD future is very bleak unless the business ppl get out from idea of handout...whining and LDC access.... You cant sustain 170 million ppl selling cotton underwear at low value walmart. End of story.

I recently bought Samsung tablet which cost me 1200 dollar. guess where it was made in? Made in Vietnam. Where we bangle ppl of 170 million famous for sending underwear everywhere.