Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News The development path of Bangladesh’s textile and garment industry

The development path of Bangladesh’s textile and garment industry



According to news on December 24, the textile and garment industry plays a very important role in the economic and social development of Bangladesh, accounting for approximately 38% of Bangladesh’s total indust…

According to news on December 24, the textile and garment industry plays a very important role in the economic and social development of Bangladesh, accounting for approximately 38% of Bangladesh’s total industrial output value, and is highly valued by the Bangladeshi government. Currently, Bangladesh has more than 2,000 textile factories and more than 6,000 garment processing factories, employing more than 4.8 million people, making it the world’s second largest textile exporter after China. In the fiscal year 2012-2013, the total export volume of Bangladesh’s textile and garment industry was US$21.51 billion, accounting for 80% of Bangladesh’s total exports. Among them, the garment manufacturing industry is developing rapidly, with an average annual growth rate of more than 16%. In the 2013-2014 fiscal year, the garment manufacturing industry achieved export revenue of US$12.04 billion, an increase of 15% over the same period.

The Bangladesh government vigorously supports the development of the textile and garment industry
Since the past two governments have advocated the implementation of a market economy, promoted privatization policies, improved the investment environment, and actively created export processing zones, they have attracted a large amount of foreign investment and the competitiveness of textile and apparel products in the international market has also been continuously improved. With the development of the textile and clothing industry, its industrial development shows the following characteristics:
First, industrial policy support is strong. The Bangladesh government actively guides foreign investment in the textile and garment industry. It has not only promulgated a series of laws such as the “Foreign Private Enterprise Investment Law” and the “Investment Law” to ensure the interests of foreign investment, but also established an export processing trade zone. Export processing enterprises investing in export processing zones can enjoy tax exemption for 10 years. In addition, foreign textile and garment enterprises investing in Bangladesh can also enjoy preferential treatment such as no barriers to exports, no tariffs on imports, and the profits can be taken away. Cheap production costs and various preferential policies have successfully attracted a large number of overseas investors to invest and build factories in Bangladesh, which has greatly promoted the development of Bangladesh’s textile and garment industry.
Second, the industrial scale is relatively large. After years of development, Bangladesh’s textile and apparel industry has reached considerable scale. At present, there are more than 500 enterprises with more than 1,000 employees, and the largest textile and garment factory has about 150,000 people. The factory has advanced equipment and facilities, standardized management and high production efficiency. World-renowned clothing companies have foundries in Bangladesh, such as Zara, HM, etc. The company has complete product testing equipment and strictly implements international quality testing standards to integrate with the international market.
Third, the textile and garment industry has advanced production equipment. Bangladesh’s textile and garment industry has advanced production equipment and high processing technology. At present, Meng’s textile and garment industry has a variety of processing techniques such as washing, tie-dying, hanging dyeing, snowflake washing, etc., and can undertake the processing of various clothing products. However, textile machinery mainly relies on imports. The spinning frames, blowing and carding machines, combing machines, draw frames, roving frames, winding machines and certain chemical fiber equipment used by many textile factories are produced in Germany, Japan and other countries.
Bangladesh’s textile and apparel exports are growing rapidly
As the most important industrial industry in Bangladesh, the textile and garment industry is directly related to the economic and social development of Bangladesh and has always received strong support from the Bangladeshi government. With the continuous improvement of Bangladesh’s market system, the continuous improvement of technical level, and the continuous development of overseas markets, Bangladesh’s textile and garment industry will show the following development trends in the future:
First, the self-sufficiency rate of raw materials is expected to increase. Bangladesh’s current self-produced cotton can only meet 2%-3% of the country’s needs. Data from the Bangladesh Textile Association shows that Bangladesh needs to import 4 million bundles of cotton every year, and each bundle of cotton is about 400 pounds for textile use. Recently, Meng is developing a new type of cotton. The fiber length of this new type of cotton is 25-30 mm. The fiber quality is uniform and easy to dye. If the cultivated area of ​​this type of cotton reaches 2 million hectares, it can meet 50% of domestic cotton needs in 2021. With the research and development of new cotton varieties in Bangladesh, the self-sufficiency rate of cotton used in Bangladesh’s textile and garment industry is expected to increase in the future.
Second, the demand for sewing machinery will continue to rise. Under the overall trend of year-on-year decline in exports of the global sewing machinery industry, the Bangladesh market has suddenly emerged, achieving a counter-trend growth in demand for sewing equipment: from January to September 2012, the amount of China’s exports of sewing machinery products to Bangladesh was Breaking through 40 million U.S. dollars; from January to November 2012, Japan exported sewing machinery products to Bangladesh amounting to 5.01 million U.S. dollars, a year-on-year increase of 10.81%. These data indicate that Bangladesh has huge potential for demand for sewing machinery.
Third, clothing exports are growing rapidly. The textile and clothing industry is a pillar industry in Bangladesh, and the Bangladeshi government has been actively seeking various channels to expand the global market share of its products. Bangladesh’s traditional export countries of textile and clothing products are mainly the European Union, the United States, Japan, Australia, Canada and other places. In recent years, with the diversification of products and markets, Bangladesh’s exports to Japan, China, Russia, Latin America and Africa have shown growth. The “Act East” policy that the Bangladesh government is actively implementing will also further expand the market share of Bangladesh’s textile and apparel products in East and Southeast Asia, and its exports will grow rapidly in the future.

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Author: clsrich

 
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