The shifting of orders for apparel from Bangladesh to other countries is a challenge for the country’s garment sector, Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said at a press conference related to the 24th Bangladesh Apparel and Textile Exposition (BATEXPO), which begins on October 10, 2013.
Bangladesh’s garment exports grew by 22 percent year-on-year in July, but the growth rate came down to 5.5 percent year-on-year in August, as new orders shifted to other countries, including India.
Mr. Islam said the depreciation of the Indian currency in recent months coupled with appreciation of the Bangladeshi taka has made Indian garments attractive, resulting in buyers moving towards India.
He added that the rupee depreciation has given big advantage to India.
Talking about BATEXPO 2013, Mr. Islam said they are expecting better feedback from buyers at this year’s edition compared to the previous occasions.
He said 55 buyers, including 23 new, have already confirmed their participation in the three-day expo.
Three Business seminars encompassing current global market issues and colourful fashion shows displaying the latest fashion trend would also be held on the sidelines of the expo.
The last edition of BATEXPO, organized by the BGMEA, received spot export orders worth US$ 61.67 million, including ready stock apparels.