Global apparel brands believe Bangladesh’s ready-made garment exports may reach US$100 million
According to Bangladesh’s “Daily Sun” report on May 11, Ziaur Rahman, the regional director of H&M Group in Bangladesh, Pakistan, and Ethiopia, held a 2-day meeting in Dhaka on Tuesday. At the “2022 Sustainable Apparel Forum” held today, it was stated that Bangladesh has the potential to reach US$100 billion in annual garment exports in the next 10 years. Bangladesh is one of H&M Group’s main purchasing locations for ready-made garments, accounting for approximately 11-12% of its total outsourcing needs. Ziaur Rahman said that Bangladesh’s economic situation is very good, and H&M Group is purchasing ready-made garment products from 300 factories in Bangladesh. Shafiur Rahman, regional operations manager of G-StarRAW, a denim company headquartered in the Netherlands, said that the company purchases denim worth about US$70 million from Bangladesh, accounting for about 10% of its total global purchases. G-StarRAW has plans to purchase denim from Bangladesh. China purchased denim worth up to US$90 million. Data from the Export Promotion Bureau of Bangladesh (EPB) shows that ready-made garment exports in the first 10 months of the 2021/22 fiscal year rose to US$35.36 billion, 36% higher than the same period of the previous fiscal year and 22% higher than the expected target for this fiscal year. %.
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