Apparel Online Bangladesh Magazine August Issue 2018 | Page 28
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Bangladesh's apparel exports to Japan take
big strides
Japan is emerging as a booming
export destination for Bangladesh’s
apparel items. According to data
from Bangladesh Export Promotion
Bureau, Bangladesh exported a net
total of US $ 845 million worth of
apparel items to the Asian country
during fiscal 2017-18, which was a
very impressive 13.7 per cent gain
on a year-to-year basis.
Further research into the matter
by Apparel Online finds out that
it was an equal market share
of woven and knit expo rts.
Bangladesh exported over US $ 444
million of knitwear and US $ 401
million worth woven garments to
Japan.
contribution in boosting exports
following the apparel trade fair
in April.
Mohammad Hatem, Vice
President, Bangladesh Exporters
Association, told Apparel Online
that Japan was heavily reliant on
China in the past. As they moved to
diversify their sourcing, they opted
for Myanmar for a while before
taking an interest in Bangladesh.
In overall exports, Bangladesh
fetched US $ 1.13 billion from
Japan during the fiscal, which was
also an impressive 11.7 per cent
gain. It was mostly thanks to the
readymade garment exports which
occupied over 74 per cent of the
basket. According to the industry
insiders, Bangladesh has been
engaged in increasing apparel
exports to Japan since 2010. The
knitwear manufacturers have a big
According to him, the consumers
of Japan demand high-end and
high-quality products which the
Bangladeshi apparel manufacturers
are able to provide. “There is scope
to penetrate the market further,”
he says.
EU reiterates post-LDC tariff-free promise
to Bangladesh
The European Union (EU) has
reiterated its commitment to
ensure tariff-free trade benefits
for Bangladesh after the latter
graduates from Least Developed
Country (LDC) status.
Bangladesh, in return,
appreciated sustained
commitment from the EU to
continue to provide tariff-free
market access for Bangladeshi
goods to the EU market, under
the ‘everything but arms’ (EBA)
regime – which, in other words is
the GSP Plus.
The assurances and gratitude
were exchanged during the 3rd
Bangladesh – EU Diplomatic
Consultations in Dhaka recently.
The EU was led by Gunnar
Wiegand, Managing Director for
Asia Pacific, EU External Action
Service, while Foreign Secretary
Md. Shahidul Haque represented
the Bangladesh side.
Both sides agreed that trade is an
important tool in tackling poverty,
and that increasing bilateral trade
would bring significant benefits to
both sides. Both sides seem to look
forward towards strengthening
the trade and investment
relationship in the future.
The two sides reaffirmed their
commitment to further deepen
and broaden their partnership for
peace, stability, and sustainable
development, based on the
principles of mutual respect, trust,
equality, and mutual benefit.
The agenda included political
developments on both sides -
Brexit, trade and investment
including everything but arms;
strategy for post-LDC Bangladesh
relations with the EU; and other
issues of bilateral importance.
The EU briefed on political
developments in Europe, including
BREXIT negotiations. Bangladesh
briefed on political developments,
including the upcoming general
elections to be held at the end of
2018.
The EU congratulated Bangladesh
for being on-course to graduate
28 Apparel Online Bangladesh | August 2018 | www.apparelresources.com
to middle income country
status. Bangladesh, on its part,
requested continued support
from the EU for a smooth
transition and sustained
graduation. Both sides
recognised that the nature of
the development relationship
will evolve as Bangladesh moves
towards becoming a middle
income country.