🇧🇩 Textile & RMG Industry of Bangladesh (4 Viewers)

[Saif]

Garment export to EU slightly up in July-April

Garment export to the European Union (EU) in the July-April period of the current fiscal year grew by 3.66 percent from that in the corresponding period of last fiscal year to reach $19.90 billion.

www.thedailystar.net

Garment export to EU slightly up in July-April

Garment export to the European Union (EU) in the July-April period of the current fiscal year grew by 3.66 percent from that in the corresponding period of last fiscal year to reach $19.90 billion.

Among the EU member countries, garment export to Denmark grew by the highest margin of 32 percent, according to data from the Export Promotion Bureau compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Meanwhile, garment export to Poland grew by 20.65 percent followed by 17.51 percent to the Netherlands, 6.07 percent to Spain and 3.42 percent to France.

However, apparel export to Italy declined by 2.45 percent, as per the country-wise garment export data compiled by the BGMEA.

Moreover, garment export to Germany, the largest export market in the EU, amounted to $5.01 billion.

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[Saif]

Intertek launches iCare in Bangladesh to support textile industry

Intertek has launched iCare, an innovative digital platform, in Bangladesh to support the local textile industry by offering a seamless and pioneering solution for managing testing processes from start to finish. The company--Intertek, an assurance inspection, product testing and certification com

thefinancialexpress.com.bd

Intertek launches iCare in Bangladesh to support textile industry

Intertek has launched iCare, an innovative digital platform, in Bangladesh to support the local textile industry by offering a seamless and pioneering solution for managing testing processes from start to finish.

The company--Intertek, an assurance inspection, product testing and certification company, launched the new platform in Bangladesh on Monday at an event in the capital city following its successful introduction in Türkiye last November and India in March, according to a statement.

Driven by increasing regulatory scrutiny and heightened consumer expectations, there is growing demand among customers for bespoke, end-to-end solutions that can improve transparency and traceability around the processing and testing of lab samples.

iCare is a one-stop science-based Customer Excellence portal that is designed to address these challenges, providing clients with a pioneering, industry-leading solution that will allow them to seamlessly manage and monitor their testing processes from start to finish, added the statement.

iCare would enable customers around the world to submit test requests, view reports and analytics online and connect with in-house teams of experts in just a few clicks, allowing greater transparency for customers regarding their samples and the testing process, it added.

Sandeep Das, President of Global Softlines and Hardlines and Regional Managing Director South Asia at Intertek, said, "iCare's industry-leading capabilities are not only a response to current customer demand but also a testament to Intertek Softlines' commitment to pioneering innovation."

By harnessing advanced technologies and redefining the benchmark for transparency and traceability, iCare sets a new standard for the ATIC industry and solidifies Intertek Softlines' position as an industry leader for customer excellence in the field of quality assurance and testing services, he added.

Neyamul Hasan, Country Managing Director, Intertek Bangladesh and Shelly Lo, Senior Director of Marketing and Innovation for Global Softlines and Hardlines at Intertek, among others, were also present.​

 

[Saif]

Manmade Fibre: Bangladesh’s best bet to become top apparel exporter

Having become the world’s second largest source for apparel items after China, Bangladesh is now pushing for the top spot by adding more value-added products to its export basket.

www.thedailystar.net

Manmade Fibre: Bangladesh's best bet to become top apparel exporter

Photo: Refayet Ullah Mirdha

Having become the world's second largest source for apparel items after China, Bangladesh is now pushing for the top spot by adding more value-added products to its export basket.

Clothes made of manmade fibre (MMF) are playing a particularly vital role in this regard as such highly value-added apparel items have significant demand abroad.

Besides, non-cotton apparel fetches higher prices than cottonwear for being more flexible, durable and functional, with the cost of a T-shirt made from MMF being about double that of one made from cotton.

As such, local garment makers have been diversifying their product base with non-cotton items.

Additionally, they have increased their production capacities, maintained consistency in supply and improved product quality over the past five decades.

Now, about 7.9 percent of all apparel items sold worldwide come from Bangladesh as the country has turned into a reliable source for international clothing retailers and brands.

And with about 29 percent of the country's garment exports comprising MMF products, Bangladesh aims to use this segment to expand its global market share to 12 percent by 2030.

With this in mind, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) aims to increase the country's annual apparel exports to $100 billion within the next six years.

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[Saif]

Buyers shift to Delhi airport as higher expenses make Dhaka unattractive

The tariff at the largest airport in Bangladesh is so high that buyers stay competitive even when their goods travel a distance of nearly 1,900 kilometres in trucks from the country to Delhi via Benapole and Petrapole.

www.thedailystar.net

Buyers shift to Delhi airport as higher expenses make Dhaka unattractive

International clothing retailers and brands sourcing from Bangladesh prefer the Delhi airport to Hazrat Shahjalal International Airport (HSIA) to carry goods owing to the lower tariff offered by India.

The tariff at the largest airport in Bangladesh is so high that buyers stay competitive even when their goods travel a distance of nearly 1,900 kilometres in trucks from the country to Delhi via Benapole and Petrapole.

For example, it costs $3 to transport one kilogramme of garment items from the HSIA to destinations in Europe. The charge is $1.2 if the goods are sent via Delhi's Indira Gandhi International Airport.

An elevated level of tariffs, value-added tax, and ground handling and service charges at the HSIA are mainly driving users away from Dhaka.

At the airport, a 72 percent surcharge is imposed for ground handling. If the fee is not paid on time, a 60 percent fine is levied.

A total of 1,65,000 tonnes of cargoes were shipped from the HSIA In July-March of the current fiscal year, according to data from the civil aviation and tourism ministry. Of the quantity, 1,34,000 tonnes were garment items and 30,000 tonnes were vegetables, fruits and other items.

In 2022-23, some 1,67,000 tonnes of cargoes were sent abroad via the airport. This included 142,000 tonnes of garment products and 24,000 tonnes of fruits, vegetables, and allied food items.

Kazi Wahidul Alam, an aviation expert, said more than 8,000 tonnes of cargoes, especially those containing garment items, were diverted from the HSIA to Delhi last year because of higher tariffs.

"The volume is higher this year as buyers are increasingly finding Delhi airport more competitive for their business," he said, adding that 50 tonnes of cargoes are redirected from the HSIA to Delhi every day on average.

Owing to the higher charges, local airlines, freight forwarders, courier companies, ground handlers, and many other related sectors are losing business.

At least eight private airlines that tried to do business on the domestic routes of Bangladesh could not become competitive because of escalated high tariffs, Alam said.

Kabir Ahmed, president of the Bangladesh Freight Forwarders Association, described the freight charge at the Dhaka airport as extremely high.

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[Saif]

RMG export prices fall by 16% in 8 months: BGMEA

Apparel’s demand decreases among end consumers hit hard by high inflation, it says

www.thedailystar.net

RMG export prices fall by 16% in 8 months: BGMEA
Apparel's demand decreases among end consumers hit hard by high inflation, it says

Export prices of Bangladeshi garment items fell by 8 percent to as high as 16 percent year-on-year in the last eight months thanks to a fall in demand among consumers because of high inflationary pressure.

Not only the prices of apparels shipped from Bangladesh have fallen, but also the export of garments witnessed a falling trend in volume in major markets, according to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

For instance, apparel import from the US declined by 7 percent and from the European Union it experienced a 13 percent fall in the July-April period of 2023-24 fiscal year, the BGMEA data also said.

Garment export increased by 4.97 percent year-on-year in the 10 months to April this year, down from the 9.09 percent year-on-year growth posted in the same period previous year.

However, the bank interest rate rose by 15 percent and the cost of production by 50 percent in the last five years, BGMEA President SM Mannan Kochi said at a meeting with the reporters of different print, televisions and online media outlets at Pan Pacific Sonargaon in Dhaka today.

The cost of production has increased because of price hikes of gas, power and wages of the workers, he said.

Kochi also said the government's decision of not allowing making investment outside of the export processing zones (EPZs) and the special economic zones (SEZs) will have a negative impact on the inflow of investment in the country.


He urged the government for reviewing the decision and giving go-ahead to making investment and setting up factories outside of the SEZs and EPZs so new investments come and new factories are set up.​