• Thursday, Aug 06, 2020
  • Last Update : 01:03 am

Garment accessories open new export window

  • Published at 02:03 am June 6th, 2017
Garment accessories open new export window
The garment accessories sub-sector is taking on more importance for Bangladesh with the start of direct exports to global brands, and could see a three-fold increase in export revenues in the next eight years. According to data from the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), the accessory sector earned $6.12bn in the last fiscal year, of which $1.12bn came from direct exports. The remaining $5bn were deemed indirect exports. If the sector gets policy support and cooperation from the government, however, the earnings are likely to increase to $12 billion towards the end of 2018 and could hit $18 billion by 2025. “Currently, our direct export is about 20% of deemed export items and is worth $1.12bn,” BGAPMEA president Abdul Kader Khan said. “(But) despite this huge contribution to the RMG sector, we did not enjoy cash incentives against the export of accessories.” To continue the upward trend, BGAPMEA is calling for cash incentives and low interest bank loans to boost the sector and create more jobs. “The sub-sector works closely with the RMG sector as a strong backward linkage industry,” said Abdul. Capture There are about 1,500 factories producing garment accessories and packaging items in Bangladesh, employing over 400,000 people. Products include labels, zippers, tags, tapes, thread, ribbon, buttons, rivets, laces, hooks, transfer film, paper, and ink. RMG accessory products used to be exported as deemed items, but in recent years, several new global retailers have started sourcing accessory products directly from Bangladesh. Destination countries include the Netherlands, South Africa, Pakistan, India, China, Ethiopia, Indonesia, Italy, Sri Lanka, Turkmenistan, Germany and Austria. According to the association, some big buyers started contacting manufacturers to source accessories from neighbouring countries like Myanmar, India, and Vietnam – sources of their clothing products. Md Zahirul Islam, assistant manager (Commercial and Sourcing) of Montrims Limited, told the Dhaka Tribune that his company manufactures “world-standard” garment accessories for many reputable international brands such as Tesco, Kik, Ferari, C&A, H&M, Next, and UniLabel. “The global buyers prefer some accessories from multinational companies on the grounds of quality, which Bangladesh has already,” Zahirul said. “Since there is more capacity than needed, accessories can be another big sector for export.” RMG sector leaders believe Bangladesh can take the lead in the export of RMG accessories, especially to the Asian market. China remains the global leader in the sector but has started shifting business due to high labour costs. “Those days are not far away when Bangladesh will turn out to be the global leader in accessories export as it has already established international standard manufacturing factories,” Exporters Association of Bangladesh (EAB) president Abdus Salam Murshedy told the Dhaka Tribune. “The sub-sector of the clothing industry has made a great contribution to national exports, plus it helps the manufacturers reduce their lead time,” said Salam, who is also a former BGMEA president.
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail