The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have collaborated with the IFC Bangladesh Investment Climate Fund (IFC-BICF) to do a prefeasibility study on setting up a special economic zone for the knitwear sector.
The main reason behind doing a prefeasibility study for the project to be named 'Knit Village', is to assess properly the financial and economic viability as well as market demand for the products to be manufactured in the 'Knit Village'.
Bangladesh ranks third in the global list of knit wear exporting countries, behind China and Turkey, but also has the potential to emerge as the biggest knitwear exporter, but needs to plan ahead and maximize public-private partnership.
The 'Knit Village' will have all kinds of processing activities related to knits at one single place which will improve the cost competitiveness of the sector along with housing an electric supply unit and common effluent plant.
Fibre2fashion News Desk - India
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