Home / Knowledge / News / Textiles / Entrepreneurs contemplate venturing for Turkish partnership
Entrepreneurs contemplate venturing for Turkish partnership
22
Apr '08
Head of the Turkish Knitwear Industrialists Association met domestic readymade garment entrepreneurs on April 7 expressing its desire to manufacture apparel products on a joint venture basis.

What propelled Turkish knitwear manufacturers to make such a proposal was the increasing cost of production driven by high labor costs in contrast to cheap availability of labor and easy access to raw materials in Bangladesh.

Domestic knitwear manufacturers have already started gathering relevant data for conducting a study on the viability of the proposal.

Mr Fazlul Hoque, President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) observed that Turkey was the second largest apparel exporter to European countries after China and since the country has adequate technology, own brands and a huge market, Bangladesh is likely benefit from the proposition.

Turkey's export value of knitwear apparels amounts to US $20 billion every year and an export to Russia alone reaches $6 billion.

Research studies show that knitwear market in Europe is worth $36 billion and if Bangladesh concludes an agreement of joint venture with Turkey, there is huge scope for exploiting the EU market. Besides, local entrepreneurs can get the opportunity to grab a more market share.

In an exclusive interview with Fibre2fashion, Mr Fazlul Hoque stated, “In a bid to cater to the need of research and development of the knitwear sector, an Institute of Apparel Research & Technology (iART) has been established by the BKMEA. Presently, the iART is working on different national and international trade and other related issues concerning production and social compliance.”

Providing valuable statistics on exports made in the period 2006-07, Mr Fazul divulged, “Knitwear exports reached $4,553.6 million while woven, handicraft, footwear and home textile touched $4657.63, $8.16 and $256.97 millions respectively.”

The overall value of exports touched $12,177.86 showing that the country has enormous potential to expand its production and export domain.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search