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

Courtesy: Markus Spiske from Pexels

Textiles | On 19th Apr 2018

Intra-state e-way bills in 6 more states from April 20

E-way bill for intra-state movement of goods would be implemented in...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

Indian inter-ministerial group to study e-commerce issues

Apparel/Garments | On 19th Apr 2018

Indian inter-ministerial group to study e-commerce issues

The Indian Government has set up an inter-ministerial group to study...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ashok Desai
Bombay Textile Research Association

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Akta Adani
India Boulevard

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

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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