Home / Knowledge / News / Apparel/Garments / Bangladesh targets fivefold rise in RMG export to Canada
Bangladesh targets fivefold rise in RMG export to Canada
21
Apr '15
Bangladesh is eyeing an ambitious fivefold rise in readymade garments (RMG) export to Canada to $3.5 billion by 2021. Masud Rahman, chief of the Canada Bangladesh Chamber of Commerce and Industry (CanCham Bangladesh) told the media recently that Bangladeshi exports to Canada stood at $1.1 billion in the fiscal year to June 2014, making it the fifth biggest market for the country. Of that figure, RMG – Bangladesh’s main export – was $770 million.
 
Bangladesh has set an overall target of $50 billion of overseas sales by the end of 2021 and Canada will be a key garment export destination. “The country aims to increase the value of its RMG exports globally to $50 billion by 2021 when it will become a middle income country,” Masud told reporters after talks with leading international RMG buyers.
 
Currently, Bangladesh is the second largest garment exporting nation after China with shipments of $24.5 billion in the last fiscal year. 
 
Official data show RMG share was 81 per cent of $30.18 billion that Bangladesh earned from global exports in the last fiscal year. The US, Germany, Britain and France ranked ahead of Canada as the biggest export markets. 
 
Canadian High Commissioner to Bangladesh Beniot Pierre Laramee said Bangladeshi RMG exports to his country had increased steadily since Ottawa allowed them duty-free access in 2003. (SH)
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

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

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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