To support Bangladesh, China is keen to transfer necessary technology in all sectors including textiles without any reservation. Ma Mingqiang, Chinese Ambassador to Bangladesh said this as a special guest in inaugurations ceremony of the 11th Dhaka International Yarn & Fabric Show and Dhaka International Denim Show 2017 jointly organized by CEMS Global and CCPIT (CCPIT-TEX) at International Convention City Bashundhara in Dhaka. Bangladesh is the second largest exporter of Ready Made Garments (RMG) products in worldwide, and the country now badly requires right technologies to further build on this sector. Technology transformation offer is seen as an opportunity for Bangladesh particularly to focus more on the heavy industry.
Mr. Mingqiang highlighted the Chittagong special economic zone as a very important infrastructure for Chinese manufacturers and he appreciated Bangladesh for its policies to create investment friendly environment for foreign investors. He added that Bangladesh is geographically located in the center of three most densely populated regions of the world. To its west there is India, Pakistan and Middle East which is a market of about 1.5 billion people. To its north east it is China, Japan and Korea also having more than 1.5 billion people’s market and to its South east the ASEAN countries a market of about 700 million people. It means Bangladesh’s geographical position is enough to move it towards a tremendous economic growth.
At present, the South East Asian markets have been aimed as the destination caused by the garment making transferring, while Chinese design, technology and equipment are strongly competitive. It will be complementary to each other in some extend, and it will boost the economic cooperation eventually, he added.
Mirza Azam M. P, State Minister for the Ministry of Textiles and Jute, who inaugurated the three-day fair pointed out many actions taken by government to improve textile and RMG industry. He mentioned, government has approved a garment policy for betterment of the sector and allocated 500 acres land in Gazaria for garment manufacturers. He urged the organizers of the two shows to arrange events for promoting viscose fiber regenerated from jute in Bangladesh.
Shubhashish Bose, Secretary in Charge of the Ministry of Textiles and Jute, emphasized on diversified product and market for RMG industry and said that if America provided GSP facility for RMG product, Bangladesh would get better than present time.
Faruque Hassan, senior vice-president of Bangladesh Garment Manufacturers and Exporters Association, emphasized on the sustainability issue and said, sustainability is the core component of a business. He also said, Bangladesh has a great opportunity for growing market for RMG industry as it meets only 6% of world demand.
Fabrics and yarn are being locally made, but Bangladesh still needs to import a good quantity to meet the growing demand. In Bangladesh, local spinners and fabric mills meet over 90 percent demand for raw materials of the knitwear sector and over 40 percent demand of the woven sector. So Bangladesh is big market for global yarn and fabric makers.
Approximately 180 companies from six countries participated in the yarn and fabric related products at the three-day event. The event was catering to the requirements of the ever-growing Garment Industry of Bangladesh. It has been working as a one-stop marketplace of Bangladesh for textile business and is presenting the latest fabrics and trends.
Any unauthorized use or reproduction of Textile Today content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.