Chinese apparel firms to invest in Bangladesh

17 May '13

2 min read

On their recent visit to Bangladesh, Chinese apparel firm owners have expressed their interest to invest in Bangladesh’s apparel manufacturing companies, Feng Dehu, Vice President of China National Garment Association (CNGA), said at a meeting with the leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

During the three-day visit, Representatives of CGNA and BGMEA signed a memorandum of understanding (MoU) to increase mutual trade between the two countries by exchanging information, knowledge and technologies related to the apparel sector.

According to the agreement, both the associations would organize fairs in each other’s countries, in addition to visit of trade delegations.

The 21-member Chinese delegation visited nine factories located in the Dhaka region and found them to be adequately compliant for undertaking clothing manufacturing activities.

The CNGA members appreciated the quality of the Bangladesh-made apparels and said they plan to export the apparels to China.

Mr. Dehu said the visit was aimed at building a relationship between the manufacturers and retailers of the two countries. Since there is high cost of manufacturing in China, the Government of China is encouraging its entrepreneurs to engage in businesses outside the country, he added.

CNGA representatives said they look forward to import US$ 1 billion worth of clothing items from Bangladesh by 2014.

The BGMEA leaders present at the meeting said China is a big market for Bangladesh and the MoU will boost Bangladesh’s export volume. They added that the signing of the MoU is significant for Bangladesh’s apparel sector, especially in the context of the recent accidents at various garment manufacturing units.

They added that the MoU provides Bangladesh with an opporutnity to be associated with China’s US$ 310 billion apparel market.

Fibre2fashion News Desk - India

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