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Tuesday, May 28, 2024

Chinese textile delegation and BGMEA discuss trade and investment opportunities

Chinese are exploring the possibility of relocating their textile industry partly because of higher wages in their country and partly to nullify higher US duties on their textiles. A high level Chinese Textile delegation met with Bangladeshi counterparts.

The Chinese delegation, led by Xie Qing, executive vice president of the China National Garment Association (CNGA), met with members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) led by its president President SM Mannan (Kochi on Monday).

The meeting, held at the BGMEA Complex in Dhaka, aimed at exploring possible avenues of enhancing bilateral trade and investment between Bangladesh and China. In the meeting, both sides exchanged insights, discussed industry trends, and explored potential areas of collaboration that would bring mutual benefits.

During the meeting, the BGMEA leaders shared insights into Bangladesh’s garment industry landscape, highlighting the country’s robust infrastructure, skilled workforce, and conducive business environment.

Potential joint ventures, investment opportunities, and strategic partnerships aimed at enhancing competitiveness and facilitating sustainable growth in the apparel and textile sector were discussed in the meeting. The Chinese delegation expressed keen interest in fostering partnerships with Bangladeshi counterparts to capitalise on mutual strengths and drive innovation and sustainability in the apparel industry.

The BGMEA leaders pointed to the growing demand for man-made fibre-based fabrics in Bangladesh’s garment industry, calling upon Chinese investors to consider investing in emerging sectors such as textile machinery, man-made fibre and technical textiles, and the recycling industry.

They emphasised the importance of exchanging best practices and technical know-how to support the development of Bangladeshi garment factories.

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