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Bangladesh apparel exports to new markets soar

Bangladesh garment exports to non-traditional markets have grown more than four times in the last six years. In 2008, garment exports to destinations other than the EU stood at $800 million and in 2013 the figure crossed $3.5 billion.

Along with its traditional export destinations --the US, EU and Canada -- Bangladesh is focusing on new destinations like India, China, Russia, Japan, South Africa, Turkey, South Korea, Malaysia, Australia and New Zealand. The country is also exploring the possibility of exporting to Nigeria, Saudi Arabia and Chile by strengthening the South-South Cooperation. The South-South Cooperation is a broad framework for collaboration among countries of the south.

The Bangladesh government is enhancing skills to boost export of skilled manpower.  Skill development can promote overseas employment of Bangladeshi workers.

The Bangladesh government in 2009 had introduced a financial package to encourage garment manufacturers to explore new destinations. Under the scheme, the government gave 5 per cent cash incentive to exporters in fiscal 2009-10, 4 per cent in fiscal 2010-11 and 2 per cent in fiscal 2011-12. Exporters receive a 2 per cent cash incentive for exporting to new destinations.

 
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