Home / Knowledge / News / Apparel/Garments / BGMEA monthly session discusses product diversification

BGMEA monthly session discusses product diversification

25
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The Bangladesh Garments Manufacturers and Exporters Association (BGMEA) recently began its monthly session with specific industry-related topics. Product diversification was the topic of the first session where experts from think tanks, financial institutions, members, planning commission expressed their opinions and recommendations on the issue.

Bangladesh’s readymade garments (RMG) industry has done well in terms of expansion and export growth in last few decades. But limited diversity is the major bottleneck in its growth sustenance.

Around 73 per cent of Bangladesh’s total RMG exports ($34.13 billion) are concentrated on only five items –T-shirt, trouser, shirt, sweater and jacket while around 83 percent of total exports go to three markets – the European Union (EU), the United States and Latin America, according to a press release from BGMEA.

Besides, the export of apparel items produced from man-made fibre (MMF) from Bangladesh has remained stuck at 20 per cent for many years although the production of such garment items has crossed 40 per cent worldwide. In 2017, global trade of MMF-based apparel was $150 billion. Bangladesh had 5 per cent share of it whereas Vietnam had 10 per cent.

The discussants recommended allowing enhancing productivity and efficiency, allowing foreign direct investment in the textile sector, devaluation of local currency against US dollar and customised incentive packages for product diversification.

Experts also suggested strengthening product development department in garment factories using modern technology and setting up an innovation centre for the industry.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 10th Apr 2021

Turkey's exports to UK surge in Q1 following post-Brexit FTA

Turkish exporters have seen a noteworthy surge in exports to the...

Pic: Sunshine Seeds / Shutterstock.com

Textiles | On 10th Apr 2021

South African woven cotton textile sector workers get 5.5% rise

Those working in the woven cotton textile sub-sector in South Africa...

Pic: Shutterstock

E-commerce | On 10th Apr 2021

H&M launches on e-commerce platform Zalora in southeast Asia

H&M has joined hands with Zalora and has launched on the e-commerce...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Anurag Mohota,

Anurag Mohota

Located in the heart of cotton growing belt of India, Gimatex is a...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

Leave your Comments


March 2021

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


Advanced Search