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RMG producers explore new markets
Jul '10
Apparel manufacturers of Bangladesh have set a target to export US $500 million worth of products to three South American states, Brazil, Chile and Mexico, in next two years.

A 12-member Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently paid a visit to these three countries, which may offer a number of export orders.

This visit was undertaken under BGMEA and German Development Cooperation (GTZ's) joint initiative to broaden the horizon of RMG market beyond US and EU, which accounts for around 94 percent of the country's overall RMG shipments.

The delegation, led by 1st BGMEA Vice President, who met government representatives, high officials from chambers, RMG buyers, chain retailers, traders and importers and members of the press, during their visit to the aforesaid three South American states.

The delegation, which also included BGMEA's current Vice President and other directors along with Sr Business Advisor of GTZ, received mammoth of response from buyers of these three nations, as earlier they were not much aware about Bangladesh and its RMG industry.

As per a BGMEA official, the association expects a good number of participants at the BATEXPO 2010, from these countries, to begin trade ventures. The expo is scheduled to be launched in the month of November.

Moreover, buyers from Latin America will be visiting Bangladesh this month, informed the official. The delegation identified that, they have faced many hurdles in Bangladeshi RMG export promotion in Brazil, Chile and Mexico as Bangladesh Mission or a trade representative office was not present in these countries.

At present, Brazil, Mexico and Chile import Bangladeshi RMG goods worth $50.29 million, $114.01 million and $7.47 million, respectively. The overall RMG exports of these three countries stands at $767.07 million, $1947.85 million and $1074.83 million, respectively.

The association is in talks with the government to set up embassies in South America. The delegation underlined the need of Government level bi-lateral trade agreement to lessen the tariff barrier.

The country is looking to diversify its export market to the new potential markets such as Japan, Hong Kong, Australia and to the emerging markets like Brazil, Chile, Mexico and South Africa, in a bid to lessen its dependence on US and EU during global recession.

Fibre2Fashion News Desk - India

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