Despite the economic and market turbulences Bangladeshi companies have placed a significant amount of orders at ITMA 2019.
Bangladesh apparel industry is moving with several challenges like wage climb of apparel workers, gas price hike, price reduction by the buyers, etc. and at the same time, the backward linkage is suffering a lot due to the dumping of yarn and fabric from India and China. Bangladeshi companies have placed a significant amount of orders in ITMA 2019.
Figure 1: Spinning industries in Bangladesh have been going through severe crises for several months due to poor yarn price and demand. Cost of capital, cost of utilities, cost machinery and consumables only increased the misery. Despite those odds, the spinning mill owners explored the latest developments trying close deals for solutions which will reduce business risks in the future. BTMA director and the owners of one of the leading industry owners are seen in ITMA 2019.
At the beginning of the exhibition, a lot of Bangladeshi buyers have expressed their frustration and disappointment for not getting visa and complications in the visa processing and thought that this year Bangladeshi visitors will be significantly less in number. But in the end, the exhibitors shared their satisfaction and positivity seeing the big amount of visitors and buyers from Bangladesh.
Many of the exhibitors and their Bangladeshi representatives thanked Textile Today for carrying extensive promotion and for extending comprehensive services to bring the right people from Bangladesh in the exhibition.
Figure 2: Bangladeshi companies took the opportunity to explore the latest developments of different global machinery brands to choose the right one for them.
At ITMA 2019, Bangladeshi buyers have placed orders worth more than US$100 million, said different exhibitor sources to Textile Today. Being the second-largest apparel maker in the world the order amount is not surprising though.
Due to the US-China trade war and Chinese economic transformation, China is refocusing its investments in other industries. That means a lot of investments are coming in the ITMA exhibition outside of China.
Figure 3: Veteran experts from Bangladesh helped to bring many Bangladeshi companies to select the right technology and products in ITMA 2019.
The scenario of Bangladesh textile industry is not rosy, in terms of profitability and other reasons, but the amount of investment placed in this year’s ITMA is significant. It has been observed perpetually that Bangladesh is a vital market which invests heavily in the European textile machinery industry.
Figure 4: The picture shows Bangladesh and International team of Asutex, one of the leading speciality chemicals manufacturing companies in the world.
Textile Today at ITMA
Textile Today is the leading innovation platform in Bangladesh, represented Bangladesh textile and apparel industry in many international platforms for the last twelve years. And representing Bangladesh at ITMA 2019 exhibition as well.
Textile Today booth at ITMA highlighted the new outlook of Textile Today. Having a portfolio of services which showcased the transformation of Textile Today from a knowledge-based platform to an innovation hub.
Figure 5: Bangladeshis from different parts of the world came together at Textile Today booth.
So, Textile Today with its three pillars of activities – transforming human capital, branding Bangladesh textile and apparel, and promoting sustainability – has launched a series of new services in ITMA. These are:
Textile Today Training, under the theme of transforming human capital, started a new series – Soft Skills Development. Besides its two major training programs of Factory Skills Development (FSD) and Sustainability Management System (SMS)
Textile Today Jobs, for recruiting the right people for the right place
Textile Today classifieds, for helping companies to buy and sell business Essentials like machinery, accessories, raw materials, left out stocks, inventory, etc.
Textile Today Events, to continue to help companies to reach close to the markets and also to reach the right decisions. The new array of capacity to give knowledge, networking and branding support through many local and international events.
Corporate Membership Services, to integrate all the Textile Today Services and make them available as required by textile and apparel companies. Member companies will be able to increase its brand value and overall knowledge adopting capacity to more towards positive changes (innovation).
Textile Today highlighted the contributions it offers to the Bangladeshi textile and apparel manufacturing companies under its Factory Tales program. Also, the stories of numerous Bangladeshi textile and apparel companies’ best practices in Textile Today publication have been helping them reaching the international market more effectively. And Textile Today highlighted these pillar of activities at ITMA 2019.
Figure 6: Some of the Bangladeshi students studying overseas particularly in Barcelona found the country in Textile Today booths in ITMA.
Also, for the last 12 years, Textile Today has been organizing a number of events to promote sustainability initiatives happening in the textile and apparel industry. So, Textile Today Events under the pillar of sustainability has got a new light at ITMA 2019.
Textile Today booth at ITMA exhibition attracted an overwhelming number of visitors from all over the world, from Europe to the USA, UK, from the Middle East to South America.
Many visitors described Textile Today, as a truly global and loyal reader base magazine. Readers rely on Textile Today to get in-depth news, analysis, happenings, best practices stories, market forecasts, etc.
