Bangladesh’s garment exports may reach US$100 million
According to Bangladesh’s “Daily Sun” report, on May 10, 2022, Ziaur Rahman, the regional head of H&M Group in Bangladesh, Pakistan, and Ethiopia, held a period of time in Dhaka. It was stated at the 2-day “Sustainable Clothing Forum 2022” that Bangladesh has the potential to reach US$100 billion in annual garment exports in the next 10 years. Bangladesh is one of H&M Group’s main purchasing locations for ready-made garments, accounting for approximately 11-12% of its total outsourcing needs.
Ziaur Rahman said that Bangladesh’s economic situation is very good, and H&M Group is purchasing garment products from 300 factories in Bangladesh. Shafiur Rahman, regional operations manager of G-Star RAW, a denim company headquartered in the Netherlands, said that the company purchases denim worth about US$70 million from Bangladesh, accounting for about 10% of its total global procurement. G-Star RAW has plans to Bangladesh purchases denim worth up to $90 million. Data from the Export Promotion Bureau of Bangladesh (EPB) shows that ready-made garment exports rose to US$35.36 billion in the first 10 months of the 2021/22 fiscal year, 36% higher than the same period of the previous fiscal year and 22% higher than the expected target for this fiscal year. .
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