Export of RMG products expanding to more overseas destinations, Japan is becoming a hottest new destination with a huge potential for garments exports. The article is by Refayet Ullah Mirdha of The Daily Star.
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Garment exports to the new destination of Japan maintained a high growth rate in July-April of fiscal 2009-10 riding on the back of high demand for Bangladeshi apparel items there.
According to data from state-owned Export Promotion Bureau, Bangladesh exported knitwear items worth $60.02 million in the first 10 months of the immediate past fiscal year, which was $18.15 million in the same period of fiscal 2008-09.
In the July-April period of fiscal 2009-10, knitwear exports to Japan grew by 230.65 percent. Bangladesh logged $89.87 million in earnings from woven garment exports, registering a robust 121.46 percent growth over the same period a year ago.
According to data from state-owned Export Promotion Bureau, Bangladesh exported knitwear items worth $60.02 million in the first 10 months of the immediate past fiscal year, which was $18.15 million in the same period of fiscal 2008-09.
In the July-April period of fiscal 2009-10, knitwear exports to Japan grew by 230.65 percent. Bangladesh logged $89.87 million in earnings from woven garment exports, registering a robust 121.46 percent growth over the same period a year ago.
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| Workers pass a busy day at a garment factory. RMG exports to Japan were buoyant in the first 10 months of the immediate past fiscal year.Photo: STAR |
Data showed that RMG exports to Japan were worth $74.38 million in fiscal 2008-09, compared to $28.04 million in fiscal 2007-08.
Exporters said RMG exports to Japan are buoyant as the Asian giant reduced its dependence on China, the largest supplier of apparel items globally because of the government's recent adoption of the China+1 policy.
A major exporter to Japan said Japanese importers are coming to Bangladesh for competitive prices and the labour crisis in China. Japan was dependent on Chinese apparel makers over the last 20 years.
"Moreover, the Japanese government has recently decided to divert outsourcing of apparel items to other countries, like Bangladesh and Vietnam," he said, requesting anonymity.
The Bangladesh government's incentives for entering new destinations is also inspiring exporters to achieve the high export growth to Japan, he said.
He said many Chinese manufacturers are failing to carry out the orders because of a shortage of labour, higher wages and continuous labour unrest.
"Bangladesh should deepen diplomatic relations with Japan, so that we continue such export growth to this potential market," he said.
However, he warned that if the government fails to provide an adequate supply of gas and power to the manufacturing units, exporters would not be able to maintain the lead-time set by international buyers.
"If this happens, we will lose our potential customers."
Viyellatex Group Chairman and Managing Director David Hasanat said Bangladesh has a lot of opportunity in the Japanese market, as the big buyers of the country are entering Bangladesh.
He said the Japanese apparel market is worth more than $35 billion a year. "We have an opportunity to grab a significant amount of this figure if we go for aggressive marketing drives."
Source: The Daily Star, Monday, July 5, 2010
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1 comments:
hi
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I am Gaurav Garg From www.retireat21.in
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