Home / Knowledge / News / Apparel/Garments / BGMEA expects more RMG exports to Russia
BGMEA expects more RMG exports to Russia
24
Nov '12
The scheduled visit of a Russian business delegation, including representatives from the textile and garment industry, to Bangladesh in December this year has raised hope for the country’s readymade garment (RMG) industry, which is currently exploring new markets.

Mr. Mohammed Nasir Uddin Chowdhury, First Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told fibre2fashion, “The Russian business delegates are expected to visit Bangladesh during the mid-December this year – a result of continuous market exploration initiative of BGMEA and BKMEA (Bangladesh Knitwear Manufacturers & Exporters Association).”

Explaining the country’s opportunity to explore new export market, Mr. Chowdhury says, “Russia is one of the biggest economy in the world and exploring a new market is not a choice for Bangladesh, but it is a must.”

“Russian market could be a vital source of growth of RMG sector for the next few years. Last year, Russia imported US$ 6.7 billion worth of garments from Bangladesh,” he informs.

According to the BGMEA First Vice President, Russia is the 12th largest apparel importer in the world and Bangladesh, as the second largest garment exporting country, has a clear prospect there.

Commenting on developing the trade relation with Russia, he opines, “Bangladesh Government is interacting with the business leaders of Russia for better market access and we are leading trade delegations, attending fairs and seminars to develop good trade relation with them.”

“We have been attending fairs in Russia on a regular basis and recently a big team of apparel exporters from Bangladesh visited Russia,” he adds.

Mr. Chowdhury says, “Market diversification is a critical aspect to our market sustainability and to avoid the risk of high market concentration, we are focusing on non-traditional markets, i.e. markets other than Europe, Canada and the US.”

“Over the last three years, exports to non-traditional markets played a significant role in the development of Bangladeshi RMG sector,” he adds.

He informs, “In the fiscal year 2008-2009, the RMG export to non-traditional markets were only 6.88 percent which grew up to 12.10 percent in the fiscal year 2011-2012.”

“Countries like India, Japan, China, South Korea, South Africa, Russia, Brazil, Mexico and Chile are increasingly buying more Bangladeshi RMG products,” he quickly adds.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search