There would emerge a big opportunity for further growth and development of the readymade garment sector of Bangladesh, especially in the manmade fibre (MMF) segment, in light of buyers from USA shifting their apparel sourcing base from China, maintained media reports citing the ‘2020 Fashion Industry Benchmarking Study’ by the US Fashion Industry Association and University of Delaware.
Industry insiders too agreed that potential of MMF for Bangladesh garment industry is immense but there also are some bottlenecks.
The report which underlined that USA, in view of the so-called trade war, would reduce its dependency on China, which could open up new avenues of growth for Bangladesh more so considering that its closest competitor Vietnam, too, has limited capacities.
MMF apparel could be a potential new growth engine for Bangladesh, the report underlined.
Meanwhile, speaking to the media, Rising Group MD, Mahmud Hasan Khan, reportedly maintained there’s no option but go for MMF to diversify product offerings and capitalise on growing demand for MMF items in the global market but added that absence of backward linkage industry and infrastructure are the major bottlenecks in this direction.