Bangladesh is eyeing an ambitious fivefold rise in readymade garments (RMG) export to Canada to $3.5 billion by 2021. Masud Rahman, chief of the Canada Bangladesh Chamber of Commerce and Industry (CanCham Bangladesh) told the media recently that Bangladeshi exports to Canada stood at $1.1 billion in the fiscal year to June 2014, making it the fifth biggest market for the country. Of that figure, RMG – Bangladesh’s main export – was $770 million.
Bangladesh has set an overall target of $50 billion of overseas sales by the end of 2021 and Canada will be a key garment export destination. “The country aims to increase the value of its RMG exports globally to $50 billion by 2021 when it will become a middle income country,” Masud told reporters after talks with leading international RMG buyers.
Currently, Bangladesh is the second largest garment exporting nation after China with shipments of $24.5 billion in the last fiscal year.
Official data show RMG share was 81 per cent of $30.18 billion that Bangladesh earned from global exports in the last fiscal year. The US, Germany, Britain and France ranked ahead of Canada as the biggest export markets.
Canadian High Commissioner to Bangladesh Beniot Pierre Laramee said Bangladeshi RMG exports to his country had increased steadily since Ottawa allowed them duty-free access in 2003. (SH)
Fibre2fashion News Desk - India