NEWSDate : 2019-07-27Popularity : 0
In July, Foreign Trade Team of Niu Niu Industrial corporation went to Bangladesh to conduct research on garment accessories market
From July 8th to July 12,th the foreign trade team of dongguan magpie network technology co., ltd. and the foreign trade team of Dongguan NIUNIU industrial co., ltd. went to dhaka, capital of Bangladesh for a 5-day market research.The research team visited more than a dozen local famous enterprises, all of which were large enterprises with a scale of about 3-4 thousand people.
The textile printing and dyeing industry plays an important role in Bangladesh's economy, with garment exports accounting for 80 percent of Bangladesh's total merchandise exports.According to official statistics, Bangladesh has more than 2,000 textile factories and 6,000 garment factories, making it the world's second largest textile and garment exporter after China.
Bangladesh garment industry has been developing steadily since its inception in 1978. It is predicted that Bangladesh's export volume will reach us $50 billion in 2021, and it can achieve the development goals of safe working environment, sustainable industrial environmental protection and diversified products.
Nearly half of Bangladesh's textile apparel and footwear exports to Europe, and its main export markets for ready-to-wear and footwear are the European Union and the United States.Bangladesh's textile and garment exports to the European Union are still showing a steady growth momentum, and the continued recovery in global demand has further boosted Bangladesh's garment exports.China, India, South Korea and Indonesia will be Bangladesh's fastest-growing export destinations due to their geographical location.Still, the United States, Germany and the United Kingdom remain Bangladesh's biggest export markets as demand from the west rises, and will remain the same through 2030.
Bangladesh is located at the intersection of China, India and asean, the three major economies in Asia, and is a bridge and bond of multi-party cooperation.Bangladesh is rich in human resources, with a total population of 164.4 million, abundant labor force and low labor cost, suitable for the development of labor-intensive industries.Bangladesh implements investment liberalization policy and encourages investment.The government of Bangladesh has made a series of preferential policies.Almost all sectors of Bangladesh's economy are open to foreign investors, with a high degree of freedom to invest.It also actively builds export processing zones and special economic zones.
After this research, the team concluded that Bangladesh, as the world's second largest exporter of textile and apparel after China, has a huge market potential, and Chinese enterprises are very suitable to enter the Bangladesh market.
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