Bangladesh Country profile
Bangladesh Opportunity
Bangladesh - the country of world famous muslin fabric and the Great Royal Bengal Tiger has now emerged as child labour free apparel giant in the world textile and apparel market. The country exports its apparel products worth nearly 5 billion US$ per year to the USA, EU, Canada and other countries of the world. At present the country is the 6th largest apparel supplier to the USA and EU countries. The major products are Knit and Woven Shirts and Blouses, Trousers, Skirts, Shorts, Jackets, Sweaters and Sportswear.
Investment Climate in Bangladesh
The Government of Bangladesh offers incentives for encouraging the use of local fabrics in the export oriented garment industries. For encouraging textile export, the import of capital machinery is duty-free. Import of cotton is also duty-free. Moreover, the Government has recently implemented several policy reforms to create a more open and competitive climate for foreign investment. Bangladesh is endowed with abundant and cheap labour force that is easily trainable and convertible into semi-skilled and skilled work force. Price, heavily weighted by the labour cost, is one of the main determinants of comparative advantage in the labour-intensive garment industry. Investors can also take advantage of the generalized system of preference which allows duty-free access to European and Japanese Markets. Estimate shows that about 80 percent of garment accessories like cartons, threads, buttons, labels, poly bags, gum tapes, shirt boards, neck boards etc. are now being produced in Bangladesh, contributing to the national GDP. Prospect for a huge textile industry capable to supply over 3 billion yards of fabrics a year to the export oriented garment industry has also been developed by the industry.
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