Home / Knowledge / News / Apparel/Garments / BKMEA eyes Japan as new export destination
BKMEA eyes Japan as new export destination
24
Oct '08
Knitwear garment (RMG) sector is one of the biggest foreign exchange earners for Bangladesh. The garment trade is the backbone of manufacturing industry, accounting for 80 percent of total exports and 40 percent of industrial employments.

In order to increase their export share in the world market, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) is diversifying their focus towards new destinations, other than traditional US and EU Markets.

The association is now looking towards potential markets like Russia, Australia, but aiming to increase their exports mainly to Japan.

In an exclusive interview with Fibre2fashion, sources from BKMEA confirmed,"Knitwear import in Japan is quite high. Each year this country imports near about 10 billion knitwear garment. It also has a stable economy. Our earning from Japanese market is mere US $6 million. Now we are planning to increase our market share and make this region as one of our largest export destination. The reason for eying this particular region, you can say is we are now planning to expand our horizons.

“Another reason can be attributed to economic instability in US and EU. However, we will continue our business in these two countries as these account 90 percent of our total exports, and other 10 percent goes to other countries.”

The source further commented that China is losing competition in various markets. Countries like Bangladesh, Vietnam and Cambodia will most benefited of the current situation.

Discussing the strategy to enter this market, the BKMEA source said, “We need to enhance our products on factory level, improve our production capacity so that we can cater to both out traditional as well as new found export destinations. Since there is GSP in the country and consumption pattern is different, it will not be much difficult for us to capture that market."

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Casper raises total funding of $240 million

Casper, the global sleep company launched three years ago has...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Urs Stalder
Sanitized AG

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

Kerem Durdag
Biovation II LLC

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

news category


Related Categories:
June 2017

June 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