Global textile machinery manufacturers want to use Bangladesh as a hub of their regional business to grab markets of Bangladesh and neighbouring countries.
A number of participants in the DTG Expo told this to Dhaka Tribune at the fair yesterday.
Four-day 12th Dhaka International Textile and Garment Machinery (DTG) Exhibition is being held at Bangabandhu International Conference Centre.
Latest machinery and technology for the garment factory works like spinning, weaving, knitting, dyeing-printing-finishing, testing, washing, embroidery and sewing are being displayed.
“Bangladesh is a big apparel producing country in the world and many global buyers are coming here everyday to do business,” said Chris Zuo, marketing executive of CQ Textech Company Limited, a participating company in the DTG.
He said: “We are here to display our products to Bangladesh RMG makers. We also aim to establish contacts with neighbouring countries including Myanmar, India and Pakistan from here.”
Chris Zuo said last year’s expo was held in Pakistan and saw too less visitors.
“In Bangladesh, there are a good number of visitors even from Pakistan, India and Myanmar, which helps us get more attention from the neighboring countries,” he added.
Faruq Hossain, working with NAF Corporation, said the global textile machinery producers have placed greater focus on Bangladesh as “there are a lot of opportunities to expand business of the RMG sector as the country has a supply of cheap labour-force.”
He also said they want to communicate with buyers of neighboring countries.
“Myanmar is not a big market now. But it is likely to be a big market in near future.”
Khaza Abu Musa, Manager Textile Division of Overseas Market Corporation, said this type of international fair helps manufacturers attract buyers.
According to Bangladesh Textile Mills Association (BTMA), the participating enterprises got around $200m worth spot business orders during the last year’s Expo. It said the textile mills are able to meet around 85% of raw materials demand of knitwear factories and about 40% of woven garment factories in Bangladesh.
The country’s RMG sector needs fabrics and yarns of $16bn to meet the $25bn export target in the current fiscal year, showed BGMEA data. Of the demand, fabrics and yarn of $10bn will be met locally and $6bn will be imported.
The demands of yarn and fabrics will rise to $30bn to meet $50bn RMG export target by 2021 and it will also create more demand for machinery, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association. BTMA, in association with Chan Chao International Company Limited and Yorkers Trade and Marketing Service Company Limited, Hong Kong has organised the four-day Expo.
A total of 880 machinery companies from 33 countries are taking part in the event. The fair remains open from 12 noon to 8pm everyday for visitors, which will continue till Saturday.
