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Asian markets in China, India and Japan will help Bangladeshi clothing exporters to increase exports in the coming days


Experts agree that Asian markets in China, India and Japan will help Bangladeshi clothing exporters increase exports in the coming days with recent export changes at traditional US and EU strongholds. Whilst China boasts a size-only domestic market next to the US, the Indian fashion department will hit 115 billion dollars by 2026. In 2019, exports from Bangladesh to India reached the billions of dollars mark. Of the total amount, apparel sector alone earned $499.09 million in 2018-19 fiscal, 79.09 per cent higher compared to what was $278.67 million in the previous year.

Asiv Ibrahim, Managing Director, Newage Group, said in an early interview that manufacturers from Bangladesh must, therefore, create contacts with prominently Indian retailers and seek to build a long-term relationship based on mutual confidence and profit. The previous vice-president of BGMEA, Shahidullah Azim, added that the costs of production in India have risen following the introduction of the goods and services tax (GST), which has provided a further boost to the imports of clothing from Bangladesh.

In addition, Bangladesh should concentrate more on Asian markets to revive its export revenues amid the COVID-19 outbreak. She added that Asian markets, especially India and China, are very relevant from the export perspective of Bangladesh, says Mustafizur Rahman, the distinguished fellow of the Center for Policy Dialog (CPD).

In addition to India , China lately became Bangladeshi RMG makers’ main export destination. Bangladeshi textile exporters were making steady incomes into China and exporting cotton-based textile to China, said BKMEA Vice President Mohammad Hatem.