Chinese Companies Want To Buy Clothing From Bangladesh, Due To Rising Domestic Costs.

Chinese

Exporters expressed their interest in purchasing products from Bangladesh, because production costs in China have risen.

Garment manufacturers in Bangladesh saw this interest because they saw a huge opportunity for China to develop a market with a population of 1 billion 300 million.

China's top business delegation headed by Feng Dehu, vice president of the CNGA, arrived in Bangladesh last Friday and visited many garment and garment factories. This is part of their marketing research.

Muhi Uddin, President of the Bangladesh garment manufacturers and Exporters Association (BGMEA), told reporters at the press conference: "in China, the demand for clothing is also growing as per capita income and living standards increase, because the demand for domestic clothing is an undeveloped opportunity for us."

Muhi Uddin said that China's clothing manufacturers are currently focusing on the strategic shift of production to other destinations, and the Chinese delegation is looking for potential for business in Bangladesh.

China, which has 1 billion 300 million consumers, is a huge market for Bangladesh, because China accounts for 143 billion dollars in the world's 400 billion dollars in clothing exports.

But China is moving towards high-end and high-tech industries, and production pfer is a win-win strategy for both countries.

Muhi Uddin is looking for investments that China does not have enough capacity and strength in Bangladesh.

Great potential.

Rachman, the second vice president of Bangladesh garment manufacturers and Exporters Association, said that cooperation will significantly reduce the trade deficit between Dhaka and Beijing.

In the 2010-11 fiscal year, Bangladesh imported 5 billion 900 million US dollars from China, while exports to China were only US $320 million and the trade deficit was about US $5 billion 600 million.

Over the same period, Bangladesh's clothing exports to China amounted to only $102 million.

Some Chinese companies have already set up offices in Dhaka, which not only seek cheaper imports, but also import high-quality clothing from Bangladesh.

Chinese manufacturers say if they are from

According to different kinds of clothing, their prices can be reduced by 10-15%.