Staff Reporter :With the suspension of GSP facility in the US market, the country’s exporters have been searching new buyers globally to boost its exports, said Jasim Uddin, President of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA).Talking to The New Nation on Saturday, he said Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey could be big markets for the country.The country’s apparel, plastic, ceramic and leather goods have gradually been penetrating into these new markets thanks to better quality and competitive price range.The US government in 2013 suspended Bangladesh from the Generalised System of Preferences (GSP), which allows duty-free entry of over 5000 goods to the US market from least developed countries. The trade benefits for Bangladesh were suspended in mid-2013 after the Rana Plaza collapse and Tazreen Fashions fire, which left more than 1,200 people dead. Business delegations from many of countries, including Russian, have set Bangladesh as their destination and showing interest to local apparel products.In the recently held three-day Bangladesh Apparel and Safety Expo in Chittagong, participating companies received spot orders worth $69 million from several new destinations. They include Russia, India, Japan, China, South Korea, South Africa, Brazil, Mexico and Chile.The spot orders include RMG (readymade garment) machinery sales of $20 million, sweater machine of $12 million, fire safety equipment of $22 million and RMG accessories of $15 million.The RMG sector players have termed this as a major achievement and “unprecedented” and said through this exposition Chittagong has showcased its products to the global buyers and proved its potential.The appeal expo in Chittagong got spot order for export of 2.0 million pieces of jackets and shirts, machinery, sweater machine, fire equipment and other accessories worth $69 million.They said export orders for 2.0 million pieces of jacket and shirt came mostly from the Russian buyers where a small fraction of Bangladesh apparel usually gets access. “What we have earned through this expo is that we could ably put forth Bangladesh Brand, our potential in the apparel sector to the global buyers and their representatives,” Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said.He said that they have successfully projected the Bangladesh apparel and its future to the global buyers. Many global buyers have visited the expo.”This was a great event for lifting of Bangladesh Brands RMG, especially the potential of the RMG sector in Chittagong. Bangladesh aims to earn $50 billion from the RMG sector by 2021,” said Atiqul Islam.The Russian market could be a vital source for the RMG sector as the country has imported US$6.7 billion worth of garments from Bangladesh.According to BGMEA, Russia is the 12th largest apparel importer of Bangladesh.It is to be noted that the United States has renewed its GSP facility for 122 countries, but Bangladesh was excluded from the facility.According to the Act, the GSP facility for 122 countries will be effective until December 31, 2017 and makes it retroactive to July 31, 2013.All the SAARC nations, except Bangladesh is included in the renewed the GSP facility.In 2012, Bangladesh’s export to US market stood at $34.7 million. The exportable items included tobacco, sports equipment, ceramic and plastic goods, which were allowed a tax waiver of around $2 million for exporters.The Bangladesh government, however, said it has complied with all the 16 conditions the US had set in 2013 to regain the benefit. In April this year, Bangladesh sent a report on the matter to the USTR’s office.The US, however, has been saying that Bangladesh has made ‘some progresses, but that was not considered ‘good enough’.Bangladesh’s largest export destination is the US as around 21 per cent of its $31.2 billion exports go to that country, according to figures by the Export Promotion Bureau (EPB).
