The possibility of Bangladesh to increase export growth in American RMG market is more than the other countries exporting RMG in America. But political instability can have negative consequences in this regard. A recent research of United States Fashion Industry Association (USFIA) , has shown the problems and possibilities of Bangladeshi RMG sector in American market.
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| Bangladeshi garments industry |
The research program named, “US Fashion Industry Benchmarking Study 2015 “was led by assistant professor Sheng Lu, University of Rhode Island and this research has included the interview of different American garment and clothing brands, importers, wholesalers and retailers. It has been reported in this research that Bangladeshi readymade garments is still huge popular among the American customers.
But this popularity has been decreased due to the political instability in the last two years though, 42 percent entrepreneurs participated in this research has said that they would increase RMG import from Bangladesh in the following years.
Garment owners of Bangladesh have said, Bangladesh is falling behind in this sector due to the political violence. Many industries have been shut down because of safety concern and new industries are not developing that much due to poor infrastructural facilities. So, it will take time to overcome this problem.
China is still a popular source of importing garments for the American buyers though, china is planning to withdraw their business from this sector and buyers are considering Bangladesh and other Asian countries as alternatives. But they will not abandon China right now though, importing from China is more costly, as Bangladesh, Vietnam, Indonesia import raw materials from China.
Vietnam, India and Indonesia are the main competitor of Bangladeshi RMG according to the research report. The buyers who import RMG from Bangladesh, 87 percent of them also import from Vietnam, 67 percent from India and 60 percent from Indonesia.
In the first four months of this year, though, Bangladesh has achieved significant growth; still she is behind Vietnam and India. Growth of Bangladeshi export in the 2nd and 3rd month of this year were 2.82% and 6.25% respectively where growth of India were 7.71% and 9.36% respectively at the same time.
89 percent of the participants of this research think that garment business has a right future and 83 percent of them think that high production cost and outsourcing cost is the main challenge for this sector.
BGMEA president AIQUL ISLAM has said that its time to think why we are falling behind in this sector in competition with other countries and more research projects are needed to launch.
Reported by-
Tanvir Hossain
Reporter of Textile Tribune
Shahid Aziz Hall
Bangladesh University of Textiles
Email: tanviranikbutex@gmail.com
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