February 15, 2017
Global textile and yarn makers see Bangladesh as a potential market despite the country's apparel export 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.
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.
“Bangladesh is a good market for us as the demand for fabrics here is rising from the garment makers,” said Lavender Zhang, manager of Jiangsu Wulong Knitting Co, a knitwear fabrics maker.
Zhang spoke at the 11th Dhaka International Yarn & Fabric Show 2017—Winter Edition and Dhaka Int'l Denim Show 2017.
Mirza Azam, state minister for textiles and jute, inaugurated the fair jointly organised by CEMS Global and CCPIT (CCPIT-TEX) at International Convention City Bashundhara in the capital.
Around 180 companies from six countries are showcasing their products at the three-day event.z
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.
“Bangladesh is our future market as China has been losing its market share in the global apparel business,” Zhang said.
She said the demand for specialised textile like linen is very high in Bangladesh, which is quite capable of supplying fabrics in bulk to the garment makers.
“We have a plan to open a sales office in Dhaka in future as the business is growing,” said Zhang, who came in Bangladesh for the first time to take part in the fair.
“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.
Dewan said 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,” Dewan said. His company produces nearly 60 million yards of fabrics a year.
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, also attended the opening ceremony of the fair.
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