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

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

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

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

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

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
April 2017

April 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