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RMG exports to Japan attain stupendous heights
17
Feb '10
On account of a robust growth of 148 percent in the exports of Bangladeshi RMG to Japan during first half of the ongoing fiscal against same period of the last year, the Asian giant has become a lucrative market for the garment items of the country.

From July to December, country's apparel exports to Japan were valued at $34.04 million, against $19.41 million in first half of 2008-09. The country generated around $74.381 million from RMG exports in 2008-09 fiscal and that of $28.035 million in 2007-08, as per the data released by the Export Promotion Bureau (EPB).

During first six months of this year, knitwear exports zoomed up to $28.09 million from $5.96 million of the same period last year, while the shipment of home-textiles in the same period this year was valued at $1.12 million.

This export surge of Bangladeshi RMG to Japan is an out-come of Japan's decreasing dependence on Chinese imports, according to the manufacturers and exporters of the country. This export growth will continue further, on account of the lower prices of garment products in the country, said an industry expert.

He further said that these days Japan sources more from Bangladesh, while exporters from the latter are actively exploring new markets.

Export of Bangladeshi apparel to Japan increased in the middle of previous year following the opening of Japanese retail giant 'Uniqlo's sourcing office in Dhaka. As the Japanese buyers are quite quality conscious and the businessmen over there follow different ways of business, the exporters in Bangladesh should try to study the Japanese market properly, opined the expert.

He added that Bangladesh has the potential to acquire the position next to China, which still is the major garment supplier to Japan. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) plans to organize a single country trade fair soon in Japan exhibiting quality products, to expand the market.

Organizing trade shows will prove to be helpful for the country to export RMG worth a billion dollars, in next five years, said an expert. Japan is a potential market for Bangladeshi knitwear items as they are high-quality products that fulfill a major criterion of Japanese market, he added.

Countries such as Vietnam, Indonesia, Myanmar and India are other major sources for Japan to import apparel items.

Fibre2fashion News Desk - India


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