Developing G-8 Plans To Build Regional Clothing Brand

The state (group of eight developing countries) plans to set up a common textile market and create a regional market.

To promote economic cooperation between the 8 member states.

The proposal was made by the group in a meeting of the working group on textiles and clothing industry in Dhaka, capital of Bangladesh recently.

The state (group of eight developing countries) plans to set up a common textile market and create regional clothing brands to promote economic cooperation between the 8 member states.

The proposal was made by the group in a meeting of the working group on textiles and clothing industry in Dhaka, capital of Bangladesh recently.

The member states include Bangladesh, Egypt, Indonesia, Iran, Malaysia, Algeria, Pakistan and Turkey. The total population of the eight countries is nearly 1 billion, and the textile and clothing market amounts to US $20 billion.

ShafiulIslamMohiuddin, chairman of the Bangladesh garment manufacturers and Exporters Association (BGMEA), said that all members agreed to establish a common textile market through the effective operation of the Secretariat.

The conference was chaired by Mohiuddin, and its participants included delegations from Member States.

Turkey also proposes to set up guidelines for academic research capabilities of Member States. Indonesia proposes to develop consistent textile testing standards, while Egypt proposes to set up a joint venture to promote investment.

In the group meeting of the textile and clothing industry, the report pointed out that the establishment of a common market requires efforts to eliminate tariff and non-tariff barriers, cancel import quota restrictions for all textiles, and provide one-stop multi country visa service for textile high-ranking personnel.

Other discussions include the establishment of a textile chamber of Commerce, and all textile and clothing information, distributors, producers, and network groups.

It can determine the future of its products.

For a good product, whether the price is high or not is not the most important issue for agents. After all, high cost and high added value mean high profits. The conclusion is that the concept of "home clothes" restricts the development of the industry, and is not conducive to the introduction of advanced business models into the industry, which is not conducive to the construction of channels.

And in the market

The paction sets up a common website.

At present, the tariff rate structure of each member country is different from that of the different countries. The Group believes that the implementation of a unified tariff structure or tariff relief will benefit the member states obviously.

BGMEA chairman Mohiuddin said that in terms of the establishment of a common textile market in the country, according to the research and research conducted by the Institute and the analysis and demonstration of the market development trend, it was found that the original concept of "home furnishing" has brought a bottleneck to the development of enterprises and industries, and Bangladesh will play a key role in it.

Although Bangladesh is the world's second largest exporter of garments, Bangladesh's exports to the country are still very small.

In the financial year, Bangladesh exported garments to its member states to US $727 million, accounting for only 3% of its total exports.

Launched the network sales business, and everyone knows that e-commerce is in the price competition, online goods must be cheaper than offline to sell.

MonirulIslam, Dean and associate professor of fashion design and business studies at Bangladesh Textile University, said there is still room for growth in trade between Member States.

Canal pointed out that common

The formation of this will depend on the will of the member governments.