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Dhaka aims at $400 mn from RMG exports to Latin America
17
Jun '10
According to an official from the Bangladesh Garments Manufacturers and Exporters Association (BGMEA), Bangladesh has the potential to earn US $400 million from garment exports to three Latin American nations, within the coming three years.

Although, for such large scale exports, government support is also required, the country can still take its share of $400 million from a total of $4 billion RMG imports, of the three nations, Chile, Brazil and Mexico.

To evaluate, explore and prepare for ongoing and future potentials of the Bangladesh's apparel exports to Latin American countries, a 13-member BGMEA representative had visited all the three nations.

The representatives, during their visit, received immense response from buyers and importers of the three nations. And owing to this, members of Chile, Mexico and Brazil will soon visit Bangladesh to evaluate their import requirements. These nations will also partake in the soon to be organized BATEXPO 2010 in Dhaka.

However, as of now, the key obstacle for increasing exports to Latin American countries is the absence of Bangladeshi embassies in these countries. Industrial experts believe that, the process of tapping these markets will smoothen out, if Bangladeshi embassies are set up in these countries.

Bangladeshi RMG exporters are also eyeing to venture in to other markets such as Russian Colombia and Turkey.

Exports of RMG products to China and India are also cited by the Bangladeshi exporters, owing to both nations' large populace. Therefore, in order to study and explore the market of these two countries for readymade apparels, garment manufacturers have also sent delegates to these countries.

They now want the Bangladeshi embassies to be formed and commence operations as soon as possible in all the countries visited by them.

Although, Brazil's readymade apparel import totaled to $767.072 million last year, of which $303.631 million was of knitwear and $463.441 million was woven; Bangladesh's export to Brazil summed to $50.287 million, of which $33.559 million was knitwear and $16.688 million was woven.

On the other hand, Mexico's import summed to $1,947.85 million last year, of which knitwear formed $982.58 million and woven was $965.27 million. Of this Bangladesh contributed about $114.01 million from which, $61.76 million was knitwear and $52.25 million was woven.

Chile's overall RMG import amounted to $1,074.83 million last year, of which, $517.39 million was knitwear and woven was to the tune of $557.44 million. Of this Bangladesh shared, $7.47 million of which knitwear totaled to $5.26 million and woven was $2.21 million.

Fibre2Fashion News Desk - India

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