Exporters of Tailor Made Garments and Stocklots

Bangladesh Emerges as the World’s most Important Supplier of Apparels after China

Bangladesh has emerged as the world’s most important supplier of apparels after China in recent years and is growing rapidly following advantages that exist in other countries.China, itself is being forced to move into the high end of the market due to losses incurred from massive wage hikes and upward adjustment to its currency. Thus Bangladesh has surfaced as a highly profitable area for well known retailers such as JC Penny, Zara, Tesco, Ikea, Marks and Spencers, H&M, Uniqlo and Li Fang and US giant Walmart to name but a few.

With a view towards business expansion, many of these giant organizations have established local liason offices to enable them to raise capacity and check supply chain management. Previously these foreign buyers used to source Bangladesh’s RMG through Delhi, Hong Kong or Islamabad, but due to The Bangladesh RMG sector gaining increasing importance as a worldwide contender and keenness to shift away from China, India and Pakistan, it makes more sense to establish offices locally.

China, Pakistan and India are losing out their market share for their higher cost of production, and unfortunately Pakistan has long been a trouble torn country. More importantly, as the world’s most important destination to source RMGs, Bangladesh is refreshingly seen as a place for low-cost but quality apparels.

Cheap labour is also another factor that has placed Bangladesh in an advantageous position, but the skill and quality of Bangladesh RMGs has increased keenness somewhat, too.

Compliance issues also do not appear to be a hindrance and indeed the Bangladesh RMG sector has long shown it’s willingness to comply. Child Labour is banned in Bangladesh and, in the RMG sector particularly, it has been virtually wiped out. This can also be seen with regards to the environmental and ecological issues as many of the RMG owners have set up effluent treatment plants (ETPs) as is mandatory by law.

Meanwhile RMG exports are increasing as the world rebounds from an economic recession and despite many external and internal challenges Bangladesh appears to be the most ideal place to source RMGs.

Categories: News

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