Five new denim factories will open in Bangladesh within a year. Bangladesh exports denim fabrics and denim-made garments worth more than $600 million a year. Currently, the number of denim factories in the country is 25 and they produce 20 million yards of fabrics a month. Bangladesh is the second largest denim exporter to Europe and the third largest to the US.
Bangladesh Denim Expo will be held . The first such denim show was held in March, where 11 foreign companies participated. For the November expo, participants from Italy, Turkey, India, Pakistan and Sri Lanka are expected. There will be 30 stalls for domestic and international exhibitors. World famous designers will participate while seminars on latest denim technologies will be held on the sidelines.
The expo aims to make Bangladesh the largest denim exporter globally. It is performing below its capacity due to domestic problems while neighboring countries are bagging higher orders. The country will go for high-end denim products to grab a bigger market share. Raw material is a problem. Bangladesh produces only 40 per cent of the denim fabrics it needs. The rest is met through imports.