Bangladesh Knitwear Manufacturers and Exporters Association eyes a huge potential in Russian market as buyers there showed interest in Bangladeshi knitwear at a knit fair held in Moscow last week.
The BKMEA organised the knit fair in Moscow to increase export of Bangladeshi knit products in Russia. As many as 130 knit exporters took part in the three-day fair that ended on September 28.
Knitwear exporters received $10.1 million instant and $15 million inquiry export orders for knit apparels and buyers agreed to visit Bangladesh to have an idea about apparel sector, Bangladesh Knitwear Manufacturers and Exporters Association officials told New Age.
Knitwear exporters said the Ministry of Foreign Affairs of Russian Federation assured that they would provide additional trade facilities to Bangladesh in order to help expand its external trade including GSP facilities.
BKMEA hoped that the industry would achieve $1 billion export target in Russia within five years.
Bangladesh exported knitwear products worth $1.87 million in the last financial year.
A delegation team of BKMEA had visited Russia and held meetings with the Ministry of Foreign Affairs of Russian Federation and several trade bodies during the knit fair.
Mohammad Hatem, first vice-president of BKMEA, also head of the Bangladesh delegation to Russia, told New Age that they had demanded GSP facilities for Bangladeshi apparel products in Russia and for multiple visa and easier visa process.
High officials of the Ministry of Foreign Affairs of Russian Federation assured that they would help Bangladesh to get GSP facilities and would recommend to the authorities concerned of their country in this regard.
They also assured that they would remove visa-related troubles so that the recommended person of BGMEA and BKMEA could get visa easily, he said.
Hatem also said, ‘As a least developed country we can get GSP facilities as per the World Trade Organisation law, but it is completely a political issue and Bangladesh government will have to take initiative to achieve the target.’
‘There is a huge potential there and that’s why the government and the industry insiders should take combined initiatives to achieve our target,’ he said.
The BKMEA vice-president said they had invited Russian buyers to visit Bangladesh. ‘We will send official invitation through the ministry as early as possible,’ he said.
Total apparel demand of Russia now is worth $10.5 billion per year. They import appeal worth $6.74 billion and rest of the demands are met by domestic production.
-With New Age input
