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Friday, February 23, 2024

Bangladesh losing out on manmade fibre garment export potential

Although Bangladesh is on a path to becoming the biggest global exporter of cotton garments, the apparel export industry is losing out on the potential of exporting manmade fiber clothing.

Manmade fiber garments have a 65-70 percent share in the global consumption of apparel. But as against this, the export share of manmade fiber clothing in overall Bangladesh garment exports is just 25 percent.

“If Bangladesh can jack up exports of manmade fiber clothing, the country will be able to easily achieve its US $100 billion apparel export target by 2030,” media reports stated.

Garment exporters are demanding export incentives on the export of manmade fiber clothing as well as improvement in infrastructure like ports and roads to help them increase exports.

With US garment brands looking for alternative sourcing destinations to China, Bangladesh by increasing the manufacture of manmade fiber apparel, could help it increase global clothing exports.

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