***Bangladesh looks to Russia, Latin American markets in Textile*** The Export Promotion Bureau (EPB) looks to new overseas markets for Bangladeshi potential merchandise including readymade garment (RMG) to boost the countrys economy, a top official said. Were planning to go for aggressive market exploration in a planned manner. The EPB has already discussed the issue with Bangladesh missions abroad, Salahuddin Mahmud, director general of EPB, told the news agency. Apart from the existing Europe and US markets, Mahmud said, the bureau is now exploring new export markets in Russia and Latin American countries, including Brazil, Mexico, Argentina and Venezuela. He said a number of delegations comprising representatives from trade bodies and government officials recently visited those destinations. Russia could be the potential market for Bangladeshi apparel and frozen foods including shrimp. Referring to the non-tariff barriers (NTBs) on both Dhaka and Moscow sides, the EPB official said a process is underway to remove the NTBs to scoop out huge export potential of Russian market. The bureau is also giving special emphasis on China and Japan for Bangladeshs export destination, he said. China was the first option for Japanese import but Japan is now opting for alternatives for outsourcing as China now produces high-end products, he said. We should make our efforts to have huge volume of export like RMG to widen our export basket, said EPB DG. MustafizurRahman, executive director of Centre for Policy Dialogue, said two ways -- inner RMG and outer RMG -- are the key to diversify products. We need to go for producing middle segment from low-end products, improving fashion, design and multi-tasking and upgrading workers skill and quality control, that is inner RMG sector, he said. On the other hand, Rahman said, outer RMG means products including leather, footwear, shrimp and jute and jute goods, plastic, melamine, cement and shipbuilding and footwear. We need to give more efforts in these potential merchandise. Technology transfer will be easier if IDI comes in these sectors, he said. Source: The Daily Star
Posted on: Sat, 16 Nov 2013 20:36:29 +0000
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