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Taiwan eyes business prospects in South Asian markets

The Taiwanese manufacturers of apparel fabrics, especially polyester and accessories, aim to explore South Asia as a major business destination with prime focus on Bangladesh. The players feel that there is a vast potential for fabrics business in Bangladesh since it is considered one of the top RMG exporters and sources fabrics as raw materials.

Many Taiwanese players showcased their strength at the Taiwan Textile Fairs South Asia 2015 held in Dhaka, Bangladesh. The first such expo was held on November 23 and 24, 2015, where best of Taiwan’s innovative and value-added fibres, yarns, fabrics, trimmings and apparels were displayed to the Bangladeshi visitors. The fair was organised by the Taiwan Textile Federation and the Bureau of Foreign Trade and represented by Worldex India Exhibition & Promotion in association with Bangladesh Knitwear Manufacturers and Exporters Association.

According to TTF Overseas Market Development Specialist Sean Tsai, the aim behind organising these kind of expos is to explore business opportunities in countries such as India, Bangladesh, and Sri Lanka which hold potential for knit and woven textile products (yarns and fabrics) like synthetic, fancy, functional, recycled, and eco-friendly, as well as garment accessories.

TTF, which also organised a buyer-seller meet in Bengaluru, India, aims to export around $500 million worth of functional textiles in the next five years to India. Currently, the bilateral trade between India and Taiwan has grown from $1.19 billion in 2001 to $6 billion in 2014. Some of the leading exporters and brands in India that are already sourcing from Taiwan include Shahi Exports, Gokaldas Images, Madura Garments, Wildkraft, Moxi Sports, and Proline India.