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Buyers upbeat about Bangladesh's RMG sector prospects

Dhyana van der Pols, a sourcing consultant for a group of European garment buyers recently said there are no back-up nation to Bangladesh for the global garment business at this moment and hence, business will continue to grow in Bangladesh. However, Bangladesh needs to shift production to value-added items from basic garment goods, she further added.

Bangladesh is the most attractive destination for European retailers among the six nations due to its competence in the supply of quality products at competitive prices, says a study. Garment exports accounted for nearly 85 per cent of Bangladesh's total products sold overseas in 2016. The country's share in the global apparel market is about 6 per cent.

Kurt Salmon, a leading global strategy consulting firm focused on the retail industry, conducted a survey on the basis of Production Cost Indices (PCI) among six garment producing nations: Bangladesh, China, India, Morocco, Myanmar and Turkey. Import data of apparel items from six countries between 2005 and 2015 were analysed. Among the six nations, China is in second because of higher costs of production and dearth of skilled workers.

Siddiqur Rahman, President, Bangladesh Garment Manufacturers and Exporters Association opines the country is passing through a dull season now, the future outlook is very positive. However, the study states in global comparison of Kurt Salmon, Bangladesh is the second most attractive destination after Cambodia. Globally, Cambodia is ahead of Bangladesh only because it uses more technology in production,

 
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