Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
Mr. Mohammed Nasir Uddin Chowdhury, First Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told fibre2fashion, “The Russian business delegates are expected to visit Bangladesh during the mid-December this year – a result of continuous market exploration initiative of BGMEA and BKMEA (Bangladesh Knitwear Manufacturers & Exporters Association).”
Explaining the country’s opportunity to explore new export market, Mr. Chowdhury says, “Russia is one of the biggest economy in the world and exploring a new market is not a choice for Bangladesh, but it is a must.”
“Russian market could be a vital source of growth of RMG sector for the next few years. Last year, Russia imported US$ 6.7 billion worth of garments from Bangladesh,” he informs.
According to the BGMEA First Vice President, Russia is the 12th largest apparel importer in the world and Bangladesh, as the second largest garment exporting country, has a clear prospect there.
Commenting on developing the trade relation with Russia, he opines, “Bangladesh Government is interacting with the business leaders of Russia for better market access and we are leading trade delegations, attending fairs and seminars to develop good trade relation with them.”
“We have been attending fairs in Russia on a regular basis and recently a big team of apparel exporters from Bangladesh visited Russia,” he adds.
Mr. Chowdhury says, “Market diversification is a critical aspect to our market sustainability and to avoid the risk of high market concentration, we are focusing on non-traditional markets, i.e. markets other than Europe, Canada and the US.”
“Over the last three years, exports to non-traditional markets played a significant role in the development of Bangladeshi RMG sector,” he adds.
He informs, “In the fiscal year 2008-2009, the RMG export to non-traditional markets were only 6.88 percent which grew up to 12.10 percent in the fiscal year 2011-2012.”
“Countries like India, Japan, China, South Korea, South Africa, Russia, Brazil, Mexico and Chile are increasingly buying more Bangladeshi RMG products,” he quickly adds.
Fibre2fashion News Desk - India
| On 11th Jul 2020
The European Commission recently published a set of resources to help ...
| On 11th Jul 2020
Inditex, a Spanish fashion retailer, has announced that to accelerate ...
ING Bank, the fourth-largest bank by assets in Romania, launched its...
‘France had a reputation of being big in new ideas, but poor in marketing...
Increased need for online fitting solutions as retailers shift to...
Fashion shows are also encouraging and highlighting sustainable fashion
Dr. Vijaya Kumar
Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....
The custom-built machineries of Brugman Holland are known for reliability, ...
Saad Khaled Bari
Benetex Industries is a public ltd company established in year 1992 to...
INDA, a global association of the nonwoven fabrics industry, has been...
Garware Technical Fibres
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Aditi Somani specialises in luxury fusion wear with international cuts and ...
The hype around 'designer jeans' was created by him. And the new wave of...
Sailesh Singhania Label
The Sailesh Singhania label was created to promote handwoven sarees and...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.