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Apparel export to Turkey rises 107%

Bangladesh’s apparel exports to Turkey have seen a robust growth of nearly 107% to US $335m in the first half of the current fiscal, as seen such penetration in other non-traditional markets.

During the same period of July-December, 2012, Bangladesh had exported apparel products worth $162mto Turkey, according to Export Promotion Bureau (EPB).

Garment-industry_0The EPB data shows that knitwear garment products exported to Turkey is worth $96m, while woven garments earned $239m in the first half of the current fiscal year (2013-14).

In the fiscal 2012-13, garment exports to Turkey amounted to $415.31m, which was 17% up compared to the amount of $356m in 2011-12 fiscal.

Export to Turkey decline in the fiscal year 2011-12 as the Turkish governmenthad imposed safeguard duties on Bangladeshi readymade garments (RMG).

But in the year 2013, it rose sharply as the earlier imposed safe guard duty has been eased a bit, said BKMEA vice president Mohammad Hatem.

However, currently there is 17% duty on Bangladesh export products imposed by Turkey, for which RMG exports to the countryfaced a serious setback in the previous years, he added.

As a non-traditional export market Turkey emerged as an export destination for the country due to effort of the manufacturers as they individually tried to grab the market, said Shahidullah Azim, vice president BGMEA.

To expand the export volume the government should take initiatives to get privilege from the country, he added.

Export to Turkey rose sharply as the whole Bangladesh’s RMG export performed well in the first half of the current fiscal, EPB vice chairman Shubhashis Bose told the Dhaka Tribune. Low prices of products attracted the buyers to choose Bangladesh as sourcing destination for RMG products.

In thefourth Session of the Bangladesh-Turkey Joint Commission for Trade, Economicand Technical Cooperation (lEC) held in Dhaka on November 2012, the two countries put emphasis on importance of expansion of trade between two countries up to $3bn by 2015.

The core objective of the Joint Economic Commission session was to explore thepossibility of enhancing bilateral trade based on mutual benefits, and to advance economic tiesand cooperation between the two countries.

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Source: Dhaka Tribune

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