Bangladesh seen as a potential and future market by global yarn makers

Bangladesh apparel export that is facing challenges in some of its strong markets, including the United States and Europe. Though fabrics and yarn are being locally made, Bangladesh still needs to import a good quantity to meet the growing demand.

Bangladesh is seen as a good and potential market by the global textile and yarn makers. It is likely to be their future market as China has been losing its market share in the global apparel business.

Lavender Zhang, manager of Jiangsu Wulong Knitting Co, a knitwear fabrics maker speaking at the 11th Dhaka International Yarn & Fabric Show 2017—Winter Edition and Dhaka Int’l Denim Show 2017 stated that Bangladesh is a good market for them as the demand for fabrics here is rising from the garment makers.

Zhang said that the demand for specialized textile like linen is very high in Bangladesh, which is quite capable of supplying fabrics in bulk to the garment makers.

Zhang, who came in Bangladesh for the first time to take part in the fair further, added that they have a plan to open a sales office in Dhaka in future as the business is growing.

In Bangladesh, local spinners meet over 90 percent demand for raw materials of the knitwear sector and over 40 percent demand of the woven sector.

However, Bangladesh’s apparel exports to the US, its single largest destination, declined 1.96 percent year-on-year to $5.49 billion in 2016, due to the volatile US economy and the recent presidential election. Exports to the UK and some other European markets also fell last year.

The fabrics and yarn market in Bangladesh is growing riding on the higher demand from the customers, said Arifur Rahman Dewan, manager for sales and marketing at Huaren Linen Group (Bangladesh), a major supplier of linen fabrics from China worldwide which produces nearly 60 million yards of fabrics a year.

Dewan said that currently his company supplies linen fabrics to 15 customers and it has a target to increase the customer base to 100 by the end of 2020. Achieving the target of 100 customers is not difficult in Bangladesh, as there is huge demand for linen products.

Ma Mingqiang, ambassador of China to Bangladesh; Shubhashish Bose, secretary in charge of the ministry of textiles and jute, and Faruque Hassan, senior vice-president of Bangladesh Garment Manufacturers and Exporters Association, were among others who attended the opening ceremony of the 11th Dhaka International Yarn & Fabric Show 2017—Winter Edition and Dhaka Int’l Denim Show 2017. Around 180 companies from six countries are showcasing their products at the three-day event held from 15 to 18 February 2017 at Int’l Convention City, Bashundhara Kuril in Dhaka.