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    Garment Entrepreneurs are Eager to Expand Market in Latin America

    More than 80 percent export earnings of Bangladeshi RMG comes from United States and European countries. But factory owners are complaining that they are nor getting frequent work orders due to risky working environment and safety. They are very much eager to expand market outside USA and Europe. Latin American rmg market seems to be full of possibilities. Several entrepreneurs have recently visited Brazil to explore markets. 
    Bangladeshi Ready–Made Garments (RMG) industry
    Bangladeshi Ready–Made Garments (RMG) Industry
    USA is the ultimate destination export earning but, it has been decreasing significantly since 2014. Moreover, we are not doing well in German market, as the buyers are very conscious about the environment and working safety. RMG exporters are in huge pressure regarding decrease of work order and trying to reach alternative markets of Brazil and Latin American countries.

    Latin American countries like Brazil, Chili, Mexico are now considered as first priority for rmg exporters. Garment entrepreneur have already participated in Brazil's garments exhibition and couple of dozens of them are now already in brazil. SRT FASHION,HAGH KNITWEAR,FGS DENIM WEARS LIMITED,SEO ONE BANGLADESH LTD,MIC SWEATER LIMITED AMAZING FASHION LTD have participated in the exhibition with their products. After exhibition from 27 to 29 May, a team consisting 11 members of BGMEA are scheduled to visit the neighboring countries.

    BGMEA vice president, SHAHIDULLAH AZIM has said Textile Tribune that, it is possible to earn millions of dollar from Brazil and Latin American countries and export earnings has been increasing drastically from these countries. We don’t want to confine ourselves in traditional markets rather, want to capture new markets. For this purpose we are sending a representative team to analysis the possibilities".

    It has been known that, about 16 crore 24 lakhs and 40 thousands dollar has been profited from July to April in this economic year from Brazil. Growth is approximately 14 percent. Export is on the increase in chili though, 2 percent export earning has been decreased from Mexico.

    The main problem in confinement of export in USA and Europe is that, there comes no work orders for several months, said several RMG exporters. If they can run the factory production all round the year, they could easily slide away the pressure.

    Managing director of APK Garments Ltd, exporting in Brazil, ABDUS SALAM MURSHEDI has said that its in every way beneficial if we can create and hold a strong position in new markets. It will also develop competitive qualities by expanding business dimension.

    Reported by-
    Tanvir Hossain
    Reporter of Textile Tribune
    Shahid Aziz Hall
    Bangladesh University of Textiles.
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    Item Reviewed: Garment Entrepreneurs are Eager to Expand Market in Latin America Rating: 5 Reviewed By: Textile Tribune