Home / Knowledge / News / Apparel/Garments / Bangladeshi apparel exporters eye Russian market
Bangladeshi apparel exporters eye Russian market
Jul '11
After notching up, stupendous growth figures in the fiscal year ending June 2011, the Bangladeshi clothing industry has set its sight on the Russian market. Brazil, along with Russia India and China (BRIC) a term coined by Goldman Sachs in 2001, have been considered emerging economies.

The apparel sector has targeted US $2 billion in exports to Russia, which is Europe's most populous country, in a bid to reduce overdependence on the markets of the US and EU. Currently, Russia meets most of its clothing imports from Turkey and China.

In the just concluded fiscal year, Bangladeshi textile and clothing exports garnered $19 billion, up a stupendous 42 percent growth over the same period of the previous fiscal year. However, 85 percent of these exports are earmarked to just two regions; the 27-member EU and the US, which makes it extremely susceptible to a possible downturn in these two developed economies.

Speaking to fibre2fashion, Mr Mohammad Hatem, Vice President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) said, “We are planning to go to Russia next month. We have never explored this market and so we are visiting the country, so that our members can export their goods in huge quantities as it is a very big market in the world”.

“He added by saying, “A delegation from BKMEA will be first visiting in August, which will be followed up by another delegation in September, made up of officials from the government as well as private sector”.

Informing about the challenges, he said, “There are some problems in the Russian market. Often it is difficult to open a LC with their banks. Secondly, we had a GST facility previously but, after sometime, this GST facility was terminated by Russia. So we will enquire as to why the GST facility was terminated”.

Continuing he said, “Customs is another problem because there are some rules in customs which are not feasible for us. We want these rules reframed and create a new system, for which too, our delegation will speak to the Russians”.

Fibre2fashion News Desk - India

Must ReadView All

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search