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‘Japan to be the 3rd largest RMG destination’

MenswearPresident of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Kazi Akram Uddin Ahmed said Japan would be one of the major destinations of the Bangladeshi apparel export after Europe and America which simultaneously will enlarge the country’s export volume. Japanese entrepreneurs are interested in investing in the country’s several potential sectors like ready-made garment, leather, jute and tourism sector, he added.

“Bangladesh is a suitable place for the Japanese businessmen for investment. Japan, vice-versa would be the second largest destination for the Bangladeshi exporters as a single country”.

“If Bangladesh can grab ten per cent of the Japanese apparel import, country’s export earning will exceed $ 50 billion”, he said.

Akram Uddin said this at a press briefing held on the occasion of the four-day trip of the Prime Minister Sheikh Hasina to Japan at the FBCCI building on Sunday. A 40-member trade delegation had also accompanied the premier.

Terming the tour a successful in terms of trade and commerce, FBCCI president said that the visiting trade delegation held meeting with the stakeholders of the apparel, textile, ceramics, dying, information and technology, handicraft, jute, tourism and many others sectors Japan where they called upon the Japanese entrepreneurs to invest in Bangladesh.

He said that Japan is the second largest single country apparel importer in the world. Bangladesh can penetrate in the Japanese market, he said adding GSP and rules of origin in connection with exporting goods and products in Japan has been discussed during the tour. Monowara Hakim Ali, first vice-president of FBCCI, and Atiqul Islam, president of BGMEA, were present at the press briefing, among others.

Monowara Hakim Alai said that they urged the Japanese stakeholders to invest in Bangladesh’s tourism sector as it is the thriving sector of the country.

Country’s RMG products export is increasing significantly as the country had exported garment worth $ 24.75 crore during the fiscal year 2010-2011. On the following fiscal, the amount fetched following exporting garment items jumped to $ 40.36 crore, he informed mentioning the amount was $ 47.85 in the fiscal year 2013-2014. He also said that Japan imports apparels only 1.77 per cent of its domestic demand from Bangladesh. If Bangladesh can grab the market the country’s export earning will increases significantly, he opined.

Source: Daily Independent

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