Apparel Online Bangladesh Magazine December Issue 2018 | Page 44

BANGLADESH CANVAS Skill development in RMG sector is a must to move up the value chain: Experts Notwithstanding the fact that Bangladesh is the second largest garment exporter globally, the readymade garment sector of the country is facing challenge to move up the value chain due to shortage of skilled manpower. This was underlined by the experts at a recent seminar organised by private think tank South Asian Network on Economic Modeling (SANEM) in Dhaka. observed that in the coming days, competition from the likes of Vietnam would be on the parameter of quality and not price. “We need to focus not only on price-competitiveness but also on quality… We need to move up the value chain. From traditional products, we need to move to branded products,” reportedly stated Executive Director of SANEM Dr. Selim Raihan while underlining that Bangladesh’s apparel industry is seriously lacking skilled labour force, which is hurting the scope of moving up the value chain. “In near future, Vietnam is going to pose a threat to our RMG market and that threat would come not in terms of price competitiveness but in terms of quality,” reportedly maintained Dr. Selim Raihan, adding, “Already, a good portion of manufacturing job is shifting from China to countries like Vietnam and Cambodia but Bangladesh is yet to take benefit of that.” Presenting keynote paper on the future of RMG industry in Bangladesh, Dr. Raihan further Attending the event, experts also reportedly harped on enhancing the negotiation skills of entrepreneurs. Bangladesh exports to India gain by 168 per cent; market shows great potential India continues to prove how tremendously potential its market can be for Bangladesh’s apparel industry, as the country showed a gain of 168 per cent for a consecutive month in October 2018. According to latest data released by Bangladesh Export Promotion Bureau, apparel exports to India stood over US $ 187 million during July-October 2018, the first quarter of FY ’18-19. During the same period in the last fiscal, the figure stood at US $ 69.7 million. Last month too, exports to India surged by 167 per cent gaining US $ 145 million. For the individual month of October, the apparel exports amounted to over US $ 42 million. Further analysis into the data by Apparel Online shows that woven According to latest data released by Bangladesh Export Promotion Bureau, apparel exports to India stood over US $ 187 million during July-October 2018. garment items were the most popular in India during this first quarter. It procured over US $ 136 million worth of woven products, up more than three times (300 per cent) from the same period last year. Knitwear fetched over US $ 50 million, a double gain in this regard. Reportedly, Bangladesh’s apparel manufacturers have attributed the remarkable surge in exports to India to the rising number of foreign brands and retailers opening up a number of outlets and stores in India – which, in turn, have been sourcing heavily from Bangladesh. 44 Apparel Online Bangladesh | December 2018 | www.apparelresources.com Notably though, India has been growing into a good potential market for Bangladesh’s apparel manufacturers and exporters. In last fiscal (2018-19), apparel exports to the country from Bangladesh witnessed a 100 per cent gain – a trend which is still continuing.