Bangladesh fetched US$69m from Malaysia through exporting readymade garments in 2012-13 fiscal, which is 127% higher as compared to the previous fiscal’s export worth over $30m.
Bangladesh exported knitwear products to Malaysia worth about $45m while woven earned over $24.5m in the just concluded fiscal year, figures from Bangladesh Garment Manufacturers and Exporters Association (BGMEA) show.
In the fiscal 2012-13, Bangladesh exported products worth $100m to Malaysia, including $69m from RMG exports, while Malaysia exported products worth about $1.6bn to Bangladesh.
To attract more Malaysian buyers, Bangladesh is going to hold a three-day fair in Malaysia from August 15.
BGMEA, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Head Master Events will jointly organise the fair at Putra World Trade Center in Malaysia.
Among the South Asian countries, Bangladesh is the third largest exporter in Malaysia while India holds the first position, followed by Pakistan.
In the fiscal 2012-13, export of Bangladesh’s readymade garment products marked nearly 13% growth to $21.5bn, according to Export Promotion Bureau data released recently.
Both kinds of products – knitwear and woven – saw rise in exports in the fiscal with nearly 15% for woven garments, totaling more than $11bn, and 10.4% for knitwear to $10.5bn.
“To retain the export growth in the upcoming fiscal year, we should search new destinations and Malaysia could be a good choice,” said a BGMEA director. He also urged the government to take initiatives to explore new markets.
“We always have to explore new destination for our RMG products to reach the peak of development and to be world leader in exporting,” said SM Mannan Kochi, second vice president of the BGMEA.
He said the fair at Malaysia is aimed at exploring new destination for RMG products and to attract Malaysian consumers to Bangladesh.
“The government is very keen to improve bilateral trade with Malaysia,” said Shubhashish Bose, Vice Chairman of Export Promotion Bureau, adding that necessary initiatives would be taken to enhance the export growth.
