Gazi Anowarul Hoque :
Bangladesh’s readymade garment (RMG) accessories sector is now having a sound growth in the globe for its competitive price and standard, industry insiders said.
They also said local companies have attracted the international buyers by spirited price, maintenance of global standards and improvement of workplace environment to import garment accessories from Bangladesh.
“For better quality and competitive price many buyers are shifting to Bangladesh from China, India and other countries; so demand for local garment accessories is growing in the international market,” President of Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) said.
He said, “If we can continue the existing growth, the Bangladeshi RMG accessories export will be worth US$ 12 billion by 2018.”
The sector is showing a 10-15 per cent growth year-on-year basis for last ten years.
Local businesses fetched export worth US $ 3.5 billion in the last financial year (FY’16) 25 percent growth compared to that of FY’15.
However, the BGAPMEA has set a target of exporting apparel accessories and packaging products worth US$4 billion billion in FY’17.
Proprietor of Zerin Tex, a fabrics, yarn and accessories suppliers Md Juber Alam said currently more than 96 per cent demand of garment accessories is being met from local production and the rest 5 per cent is being imported.
He said the plastic accessories being manufactured locally are corrugated cartons, poly bags, buttons, zippers, and labels etc which are an integral part of RMG export.
Mr Alam, however, said the government has reduced import duty on various plastic products in the current financial year which is hurting local businesses.
He said countries like China, India are self-dependent in raw materials, the lower import duties help raising import from the countryflitching local manufacturers.
If such import facility exists, the sector might witness a disaster in coming days, he added.
According to BGAPMEA, a number of plastic industrial groups including KDS, DAF, RFL, Bengal and Partex also have invested big amounts of money in their industries to manufacture garment accessories and other products.
The products manufactured in Bangladesh include several types of extrusion materials, PVC pipes, shopping bags, moulding products, garment bags, woven bags, PET/PE bottles, laminated packages, rigid sheets, household products, cosmetics, medicine packs etc.
The destinations of Bangladeshi products are EU, US, Latin America, Middle-East, China, India, Pakistan, Vietnam and many other countries.
Bangladesh’s readymade garment (RMG) accessories sector is now having a sound growth in the globe for its competitive price and standard, industry insiders said.
They also said local companies have attracted the international buyers by spirited price, maintenance of global standards and improvement of workplace environment to import garment accessories from Bangladesh.
“For better quality and competitive price many buyers are shifting to Bangladesh from China, India and other countries; so demand for local garment accessories is growing in the international market,” President of Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) said.
He said, “If we can continue the existing growth, the Bangladeshi RMG accessories export will be worth US$ 12 billion by 2018.”
The sector is showing a 10-15 per cent growth year-on-year basis for last ten years.
Local businesses fetched export worth US $ 3.5 billion in the last financial year (FY’16) 25 percent growth compared to that of FY’15.
However, the BGAPMEA has set a target of exporting apparel accessories and packaging products worth US$4 billion billion in FY’17.
Proprietor of Zerin Tex, a fabrics, yarn and accessories suppliers Md Juber Alam said currently more than 96 per cent demand of garment accessories is being met from local production and the rest 5 per cent is being imported.
He said the plastic accessories being manufactured locally are corrugated cartons, poly bags, buttons, zippers, and labels etc which are an integral part of RMG export.
Mr Alam, however, said the government has reduced import duty on various plastic products in the current financial year which is hurting local businesses.
He said countries like China, India are self-dependent in raw materials, the lower import duties help raising import from the countryflitching local manufacturers.
If such import facility exists, the sector might witness a disaster in coming days, he added.
According to BGAPMEA, a number of plastic industrial groups including KDS, DAF, RFL, Bengal and Partex also have invested big amounts of money in their industries to manufacture garment accessories and other products.
The products manufactured in Bangladesh include several types of extrusion materials, PVC pipes, shopping bags, moulding products, garment bags, woven bags, PET/PE bottles, laminated packages, rigid sheets, household products, cosmetics, medicine packs etc.
The destinations of Bangladeshi products are EU, US, Latin America, Middle-East, China, India, Pakistan, Vietnam and many other countries.
