Cashing in on China’s declining share predominantly, Bangladesh could grab around 12 per cent stake in the global man-made fibre-based apparel market, which will reach US $ 375 billion by 2030.
According to media reports, this was claimed by the Chairman of the Research and Policy Integration for Development (RAPID), Dr MA Razzaque, who further, reportedly, added that for the same to happen, apart from offering necessary policy incentives, the Bangladesh Government will also have to invest US $ 25-US $ 30 billion more in developing a strong backward linkage.
The RAPID Chairman, reportedly, made the comment at a workshop on ‘Man-made fibre for moving up the value chain of RMG in the context of LDC Graduation’ held recently in Dhaka and jointly organised by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Support to Sustainable Graduation Project of the Economic Relations Division (ERD).