Chinese textile and garment entrepreneurs express growing confidence in Bangladesh’s emergence as a top apparel supplier, driven by substantial orders from global retailers. The country’s reputation for quality and cost-effectiveness attracts Chinese interest, fostering potential collaborations. As Bangladesh solidifies its position, Chinese businesses seek fruitful partnerships for mutual prosperity.
In recent years, Bangladesh has emerged as a powerhouse in the global textile and garment industry, solidifying its position as a premier supplier of apparel items. This surge in Bangladesh’s textile prowess has caught the attention of Chinese investors, who see immense potential in partnering with the country’s vibrant garment sector. The synergy between Bangladesh’s growing demand for fabrics and China’s expertise in textile manufacturing has sparked a wave of optimism among entrepreneurs from both nations.
With a healthy flow of orders from international clothing retailers and brands, Bangladesh’s textile and garment sector has witnessed exponential growth. Chinese entrepreneurs, recognizing the opportunities presented by Bangladesh’s ascendance in the industry, are increasingly bullish about investing in the country. This sentiment is fueled by several factors, including Bangladesh’s favorable business environment, rising production costs in China, and the country’s skilled workforce.
China has swiftly become the largest supplier for Bangladesh’s textile and garment industry, catering to a significant portion of the country’s demand for fabrics, yarns, chemicals, dyes, and capital machinery. Despite Bangladesh’s efforts to enhance domestic production, local weavers can only meet 40 percent of the demand for woven fabrics, leaving a substantial gap that is predominantly filled by imports, primarily from China and India. This reliance on China underscores the symbiotic relationship between the two nations in the textile trade.
Chinese investors are increasingly drawn to Bangladesh, enticed by its promising outlook and the escalating cost of production in China. The influx of Chinese capital into Bangladesh’s textile and garment sectors is evident, with investments pouring into various segments of the industry. From setting up manufacturing facilities to supplying machinery and raw materials, Chinese businesses are actively participating in Bangladesh’s textile landscape, eager to capitalize on the country’s burgeoning market.
21st Dhaka International Yarn and Fabric Show 2024 and the 6th Denim Bangladesh 2024 International Expo serve as testament to the deepening ties between Bangladesh and China in the textile sector. Organized jointly by CEMS Global and CCPIT-TEXT of China, these exhibitions have attracted a multitude of Chinese textile and garment manufacturers, keen to explore business opportunities in Bangladesh. With over 410 companies from 15 countries showcasing their products, these events provide a platform for fostering collaborations and driving innovation in the industry.
Chinese entrepreneurs operating in Bangladesh are optimistic about the future prospects of the country’s garment sector. Yong Zhang, general manager of Jinlite, a Chinese-owned outerwear manufacturer, expressed confidence in Bangladesh’s potential as a key player in the global apparel market. Zhang’s factory in the Mongla Export Processing Zone, established in 2018 with 100 percent Chinese investment, has emerged as a significant exporter of garment items, capitalizing on the rising demand for outerwear, rainwear, active wear, and jackets in Europe and the US.
Similarly, Melody Zhou, sales manager at Top One Down & Feather Co Ltd, highlighted the increasing demand for high-end jackets made from duck feathers in Bangladesh. Zhou’s proactive approach in introducing innovative products to the Bangladeshi market underscores the country’s attractiveness to Chinese businesses seeking new opportunities for growth. With a plethora of garment factories and a conducive business environment, Bangladesh offers a fertile ground for expansion and diversification.
Aileen, a Chinese entrepreneur specializing in viscose sales in Bangladesh, echoed the sentiment of optimism prevailing among Chinese investors. With sales on the rise and demand steadily increasing, Aileen reaffirmed the lucrative prospects that Bangladesh offers to businesses operating in the textile and garment industry. The country’s robust manufacturing infrastructure and skilled workforce have positioned it as an ideal destination for Chinese investments, facilitating mutual prosperity and economic growth.
Inaugurating the showcase, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, emphasized Bangladesh’s commitment to sustainability and innovation in the garment sector. With the highest number of green garment factories in the world, Bangladesh has enhanced its reputation as a responsible player in the global apparel market, instilling confidence among buyers and retailers.
Looking ahead, 2024 promises to be a fruitful year for Bangladesh’s garment industry, with retailers and brands ramping up their orders. As the largest denim exporter in Europe and the US, Bangladesh’s stature in the global textile market continues to ascend, bolstered by its competitive edge and unwavering commitment to quality and sustainability.
Amin Helaly, senior vice-president of the Federation of Bangladesh Chambers of Commerce and Industry, emphasized the significant role of Chinese investments in propelling Bangladesh’s textile and garment sector forward. With annual imports of over $10 billion worth of fabrics from China, Bangladesh presents a lucrative opportunity for Chinese investors seeking to capitalize on the country’s robust demand for textile products.
The growing collaboration between Bangladesh and China in the textile and garment sector offers vast potential for mutual benefit. Bangladesh’s ascent as a premier global apparel manufacturer attracts Chinese investors, promising economic prosperity for both nations. With Bangladesh’s firm establishment in the garment industry, Chinese investors are well-positioned to capitalize on this expanding market. Collaboration and innovation drive the future of Bangladesh’s garment sector, buoyed by the joint efforts of stakeholders worldwide. This partnership not only fosters economic growth but also strengthens ties between the two nations, paving the way for sustained success in the global textile and garment landscape.
