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Chinese sourcing interest excites bangladesh rmg makers

Chinese sourcing interest excites bangladesh rmg makers Source: www.textiletoday.com
Date: 28-01-2013
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Bangladeshi readymade garment (RMG) producers are viewing Chinese sourcing interest as a huge opportunity to tap the unexploited market with 1.3 billion customers. Of late, Chinese apparel exporters are evincing interest in sourcing apparels from Bangladesh, as the cost of production has gone up in the world’s second largest economy. A high-powered Chinese delegation, headed by China National Garment Association (CNGA) Vice-President FengDehu have visited a number of RMG units in Bangladesh as a part of their market exploration study.
 
Meanwhile, looking at importing low-cost but high quality apparels from Bangladesh, some Chinese conglomerates have already started offices in Dhaka. Addressing a press conference organized by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in Dhaka, in connection with the CNGA representatives’ visit, BGMEA President M Shafiul Islam Mohiuddin said with a rise in per capita income and standard of living in China, the demand for clothing is also rising in that country.
 
This presents Bangladesh with a great opportunity to meet the Chinese clothing demand, as the country each year exports US$ 143 billion worth of apparels, which is a big chunk of the global clothing exports of US$ 400 billion, he added. Further, Mr. Mohiuddin said Chinese apparel producers are now looking at strategically shifting their production to other locations and the delegation eyes a potential of doing business in Bangladesh. Such a shift is considered to be mutually beneficial proposition for both the nations, as Chinese entrepreneurs are shifting to production of more high-end and state-of-the-art industries.
 
Mr. Debu said they are quite amazed by the healthy and pro-production atmosphere that they saw in several Bangladeshi RMG units they visited, and added that the alliance between garment industries of two countries would prove to be a win-win situation for both of them. Chinese producers each year churn out apparels worth US$ 300 billion, 91 percent of which is consumed domestically, he said and added that he looks upon Bangladesh to be a perfect sourcing destination for Chinese firms.
 
BGMEA Second Vice-President SiddiqurRahman said the alliance between apparel manufacturers of Bangladesh and China would greatly help in trimming down the trade deficit between Dhaka and Beijing.
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