Dhaka eyes $400m RMG exports to Latin America
Bangladesh can fetch US$400 million from apparel exports to three Latin American countries in the next three years.
“The country has potential for taking share of $400 million from the total $4 billion RMG imports of the three countries - Brazil, Mexico and Chile. For this, government support is very much needed,” Nasir Uddin Chowdhury, first vice president of the Bangladesh Garments Manufacturers and Exporters Association told the news agency yesterday.
A 13-member BGMEA delegation has already visited these countries to assess, explore and prepare for current and future potential of Bangladesh's garment exports to Latin America.
During the visit, tremendous responses were received from importers and buyers of those countries, said Chowdhury, who led the delegation, adding that delegations from those countries would soon visit Bangladesh to assess their import needs. "They would also participate in the coming BATEXPO 2010 in Dhaka," he said.
"The main obstacle to raising exports to Latin America is the absence of Bangladesh missions in those countries," Chowdhury said, adding: "If government missions are opened in the countries, then it would be convenient for Bangladesh exporters to catch market there."
Besides these countries, Bangladesh is eyeing opening new market for RMG export to Russia, Turkey and Colombia.
The BGMEA leader said, "We can also raise export of RMG to China and India, as those are very large countries in terms of population."
In order to explore market for export of readymade garments, the garment makers took the move to send delegations to the countries, he said.
"The foreign missions should be activated dynamically."
Brazil's readymade garment import amounted to $ 767.072 million last year, of which $303.631 million knitwear and $463.441 million woven, while Bangladesh's export to that country was $50.287 million ($ 33.599 million knitwear and $16.688 million woven).
Mexico's import totalled to $1,947.85 million last year, ($982.58 million knitwear and $965.27 million woven), of which Bangladesh shared $114.01 million ($61.76 million knitwear and $52.25 million).
Out of Chile's total RMG import to the tune of $ 1,074.83 million last year ($517.39 million knitwear and $557.44 million woven) Bangladesh took a part of $7.47 million ($ 5.26 million knitwear and $2.21 million), Nasir Uddin Chowdhury said.
The Mexican government has agreed to allow any Bangladesh businessman holding a US visa to visit that country, he said.