Nitol-Niloy Group opens 'export house'

Nitol-Niloy Group yesterday launched a trading platform in a bid to support increased export of garments mainly to India.
Commerce Minister GM Quader formally opened the house at a ceremony followed by a fashion show at the Nitol-Niloy Tower at Nikunjo, Dhaka.
The minister wished the trading house success and hoped this effort will create enormous opportunities to enhance export earnings.
Termed as Nitol-Niloy Export House, the newly launched entity will act as a platform for buyers and sellers meeting to increase exports of clothing items.
It will have sections for product design, laboratory quality improvement and brand development to lure buyers.
The platform, located near Shahjalal International Airport, will also showcase products of its partner factories for buyers coming from abroad, said to a press release yesterday.
"Out first target market is India and first product is garments," said Abdul Matlub Ahmad, chairman of Nitol-Niloy Group.
Nitol-Niloy Group, distributor of vehicles of Tata, takes the initiative of supporting local garment makers to increase exports targeting India after the neighbouring country offered duty-free facilities for Bangladesh apparels last year.
"We also want to export leather, jute and other items though the house later," he said.
Ahmad said Bangladeshi apparel is known as the cheapest in the world. But time has come for value addition through making new designs and developing brands to get higher prices from exported garments.
"We have become a major global supplier of garments. We want to elevate our expertise to next step through value addition," he said.
Ahmad said the export house will work in collaboration with European fashion design houses in this regard. It will also publish a fashion magazine on regular basis.
"We will spend money on R&D," he said.
According to Ahmad, Nitol-Niloy Export House will work as a channel partner of local small and medium garments through the house which aims to register U$$3 billion in exports earning in the next years.
"We have received orders of $400,000 from an Indian buyer ahead of launching the export house," said Ahmad.
More buyers will come, he hoped.