RMG export to China to cross billion-dollar mark: BGMEA
It’s a long-term plan, market is huge: Chinese entrepreneurs
Dhaka, Sept 2 (UNB) – Amid the falling demand in the US and Eurozone, China has emerged as a big market for Bangladesh apparels, and exporters hope the readymade garment export to the emerging biggest economy will cross a billion-dollar mark within a few years.
However, the Chinese counterparts who have already visited a number of factories here think a billion-dollar business is too small compared to the huge demand.
“Our RMG export to China will cross a billion-dollar mark within a few years,” president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) M Shafiul Islam Mohiuddin told reporters at a press conference at its conference room.
He, however, said, “It depends on how efficient we’re in production and infrastructure facilities. But the market is huge, even the export may turn billions from a billion,”
The press conference was arranged to brief the media about the outcome of the visit of a Chinese business delegation, led by vice-president of China National Garment Association (CNGA) Feng Dehu.
Commerce Minister GM Quader, BGMEA second vice-president M Siddiqur Rahman, Chinese delegation members, including Feng Dehu and delegation coordinator Rosa Dada, were also present.
Replying to a question, Feng Dehu said, “It’s a long-term plan. I can’t tell you exactly what will be the export volume to China from Bangladesh. But surely it’ll be huge and one billion is too small.”
Dehu and his delegation members expressed satisfaction over the quality of Bangladeshi products, its price and management.
Dehu said China produces RMG worth US$ 300 billion that mostly meet domestic demand. “Only 9 percent of the total production we export, while the 91 percent meets the domestic demand.”
Responding to a question, Mohiuddin said, “China is going to be the biggest economy. We’re hoping we can grow together.”
He said there would be a big turn-up of Chinese chain stores in the upcoming Batexpo to be held here in December this year.
Mohiuddin said more than 87 percent of Bangladesh’s RMG exports are still concentrated in North America and European Union region which is a risk factor for the sustained growth of the industry. “In that case China itself a huge market with 1.3 billion populations.”
GM Quader said the government is very supportive and will extend required support to increase business with China in the prospective areas, especially the area of RMG export.
Bangladesh’s RMG export to China reached US$ 102 million in the last fiscal year, up 1033 percent than the export in fiscal 2008-09.
In 2011, China exported apparels worth US$ 143 billion out of US$ 410 billion clothing export to the world market.
The bilateral trade between Bangladesh and China is largely one-sided. During the fiscal year 2010-2011, Bangladesh imported goods worth US$ 5.9 billion against the total export of US$ 320 million showing US$ 5.60 billion trade deficit.
The Chinese delegation of the CNGA arrived here on Friday and visited a number of RMG factories.
Founded in 1991, CNGA is a nationwide organisation of China's garment industry which is also a bridge between Chinese government and RMG producers.
However, the Chinese counterparts who have already visited a number of factories here think a billion-dollar business is too small compared to the huge demand.
“Our RMG export to China will cross a billion-dollar mark within a few years,” president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) M Shafiul Islam Mohiuddin told reporters at a press conference at its conference room.
He, however, said, “It depends on how efficient we’re in production and infrastructure facilities. But the market is huge, even the export may turn billions from a billion,”
The press conference was arranged to brief the media about the outcome of the visit of a Chinese business delegation, led by vice-president of China National Garment Association (CNGA) Feng Dehu.
Commerce Minister GM Quader, BGMEA second vice-president M Siddiqur Rahman, Chinese delegation members, including Feng Dehu and delegation coordinator Rosa Dada, were also present.
Replying to a question, Feng Dehu said, “It’s a long-term plan. I can’t tell you exactly what will be the export volume to China from Bangladesh. But surely it’ll be huge and one billion is too small.”
Dehu and his delegation members expressed satisfaction over the quality of Bangladeshi products, its price and management.
Dehu said China produces RMG worth US$ 300 billion that mostly meet domestic demand. “Only 9 percent of the total production we export, while the 91 percent meets the domestic demand.”
Responding to a question, Mohiuddin said, “China is going to be the biggest economy. We’re hoping we can grow together.”
He said there would be a big turn-up of Chinese chain stores in the upcoming Batexpo to be held here in December this year.
Mohiuddin said more than 87 percent of Bangladesh’s RMG exports are still concentrated in North America and European Union region which is a risk factor for the sustained growth of the industry. “In that case China itself a huge market with 1.3 billion populations.”
GM Quader said the government is very supportive and will extend required support to increase business with China in the prospective areas, especially the area of RMG export.
Bangladesh’s RMG export to China reached US$ 102 million in the last fiscal year, up 1033 percent than the export in fiscal 2008-09.
In 2011, China exported apparels worth US$ 143 billion out of US$ 410 billion clothing export to the world market.
The bilateral trade between Bangladesh and China is largely one-sided. During the fiscal year 2010-2011, Bangladesh imported goods worth US$ 5.9 billion against the total export of US$ 320 million showing US$ 5.60 billion trade deficit.
The Chinese delegation of the CNGA arrived here on Friday and visited a number of RMG factories.
Founded in 1991, CNGA is a nationwide organisation of China's garment industry which is also a bridge between Chinese government and RMG producers.
Comments
No Comments on this News
