Textile factories are reopening, 5 new cases in Ashulia

Bangladesh’s growing apparel exports: entering new markets

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“The achievement of new markets is a positive side, but it is limited to two or three markets,” Khondaker Golam Moazzam, research director at the Center for Policy Dialogue (CPD), told Prothom Alo. We highlighted data and statistics on 15 potential markets in a research in 2010, and we are performing better in the markets where our government and trade organizations have taken various initiatives.

According to Golam Moazzam, the fee system is a major challenge in new markets. Since most of these countries are developing countries, products coming from outside their regions are exported to these countries with high duties. For this reason, Bangladesh should negotiate with them on duty reduction. It is also necessary to sign free trade agreements (FTAs), preferential trade arrangements (PTAs) with Brazil, Argentina, Peru and Mexico. Additionally, there are language barriers in many countries, as well as visa complications, and it will be necessary to address these problems, he said.

*This report appeared in the print and online editions of Prothom Alo and has been rewritten in English by Hasnul Banna.

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