Current Situation And Development Trend Of Textile And Garment Industry In Bangladesh

In recent years, bilateral trade between China and Bangladesh has increased rapidly.

According to Bangladesh media, China is considering increasing the scope of zero tariff policy on Bangladesh products, so as to maintain and further accelerate this trend.

At a bilateral meeting between China and Bangladesh in Dhaka at the end of 9, Li Jun, China's ambassador to Bangladesh, revealed that "China is considering increasing the scope of zero tariff treatment for Bangladesh products, which is expected to increase from 65% to 97%.". He said that with the deepening of economic globalization and regional integration, bilateral cooperation in all fields is facing tremendous opportunities.

China and Bangladesh have strong economic complementarities, and bilateral trade and investment remain fast growth in the context of global economic weakness in recent years.

The trade volume between China and Bangladesh has reached US $4 billion 200 million, an increase of more than 30%. over the same period last year. China will make greater efforts to continue bilateral bilateral cooperation.

China's initiative to put forward the "Sino Indian Economic Burmese economic corridor" earlier this year will bring unprecedented development opportunities to Bangladesh.

He called on all friends of Bangladesh to continue to work hand in hand with China to make unremitting efforts for the well-being of the two peoples.

The textile and garment industry plays an important role in Bangladesh's economy. It accounts for about 38% of the total industrial output value, accounting for 75% of the total export earnings, and employs more than 4 million 800 thousand people, most of whom are women.

It is the main source of Bangladesh's banking, insurance and shipping industry. It also promotes pportation, restaurants, hairdressing, cosmetics and other related industries. It provides about 800 thousand jobs for textile and garment and machinery parts industry, and the resource recovery industry has about 200 thousand jobs.

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The development and production system of the textile and garment industry is a weaker part of the textile industry, such as spinning, weaving, dyeing and finishing, which is not as important as the value of clothing and employment.

According to statistics, at present, Meng owns more than 200 spinning mills, and the yarn production capacity is about 500 million kilograms per year.

About 40% of the 200 spinning mills are backward in technology, and the equipment is very old. It is necessary to replace the equipment immediately and upgrade the production technology level.

Bangladesh has more than 350 large,

And more than 1000 small power weaving factories, with more than 40 thousand power looms, but only about 1/4 of looms are modern shuttle type.

In addition, Meng has more than 500 knitted fabric dyeing and finishing factories and more than 300 machine weaving and dyeing and finishing plants, with an annual processing capacity of about 2 billion 500 million meters.

According to Bangladesh official statistics, there are more than 4000 large and small garment processing enterprises in Bangladesh (of which 600 are large garment processing enterprises), 1 million 800 thousand of which are directly employed, most of whom are women, and have absorbed about 50% of the industrial labor force.

At the same time, the proportion of garment exports in total exports increased from 6% in 80s to 75% at present. It has become the most important source for the poor and backward countries to earn foreign exchange.

Therefore, the rise and fall of the garment industry has a direct impact on the development of Bangladesh's economy and the livelihood of thousands of millions of people. It can be said to be the lifeblood of the mon economy.

As the pillar industry in Bangladesh, the textile and garment industry has received the full attention of the Bangladesh government.

In recent years, the government has been actively seeking various channels to obtain preferential trade policy support from the destination countries of textile exports.

On the other hand, the Bangladesh government is actively implementing the "eastward" policy and making efforts to open up the market of Bangladesh textiles in East Asian and Southeast Asian countries.