Bangladesh, which now exports only around US $ 367.49 million worth of goods to the Gulf region, is missing out on around US $ 10 billion unexplored apparel market there, owing to a lack of initiatives on parts of the private sector as well as the Government despite good diplomatic relations with the Gulf countries even as Bangladesh can supply about 5 per cent of the annual demand of the UAE, around 4 per cent of Saudi Arabia’s and less than 1 per cent of the rest.
Media reports maintained this while adding that according to the International Trade Centre data, in 2020, Saudi Arabia sourced about US $ 3.01 billion worth of apparel items from global markets, the UAE around US $ 4.40 billion, Kuwait US $ 1.13 billion, Oman US $ 608 million, Qatar US $ 660 million and Bahrain US $ 274 million.
Meanwhile, speaking to the media, BGMEA President Faruque Hassan, reportedly, said Bangladeshi apparel exporters have a big opportunity in the Gulf and Middle East markets that have remained untapped for a long time owing to a lack of initiatives and went on to add, “We are planning to explore those markets in association with the Commerce Ministry and the Foreign Affairs Ministry,” even if BGMEA Vice-President Shahidullah Azim on his part, reportedly, underlined, “We have had talks with our diplomatic missions several times to organise a single country expo where exporters may join with their products, but it has not materialised yet.”