Bangladesh’s knit manufacturers are expecting a big order of cotton-made sports and fashion items from Japan on the occasion of 2020 Summer Olympics where millions are expected to converge.
Expectations have arisen after Bangladesh put on a big show at the Tokyo Fashion World 2018, the largest comprehensive fashion event of Japan, which was held from April 4 to April 6, 2018.
The Summer Olympics 2020, Tokyo, will be held from July 27, 2020, to August 9, 2020. The international event is expected to draw millions of visitors and tourists from worldwide. It is expected they will be in need of big volume of knitwear items like T-shirts, polo shirts and sweaters.
“We are expecting a huge order for the Olympics from Japan. We are hoping, orders will start to come from next year. It will boost our exports to the country,” Fazlee Shamim Ehsan, second Vice President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told Apparel Resources.
Furthermore, he added that the main economic viability of the possibility rests on the current high prices of China-sourced apparel items. “We produce apparel items lower in cost than China. Before our participation in the fair, Japan did not know that we could produce such high-end items at low cost,” he shared with us.
BKMEA insiders say that after the Tokyo Fashion World 2018 exposition, a meeting was held between BKMEA and Japan’s Ministry of Economy, Trade and Industry; which has spun new hopes for the Bangladeshi knit makers. And, during the fair, a spot order of US $ 25 million was received.
Now, after such overwhelming response, knit makers think that exports to the country will gain momentum. Recently, a press release issued by the BKMEA said that Japan has assured that it will continue to give stage-one GSP facility for the knit manufacturers of Bangladesh.
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