Collaboration between Bangladesh and Korea could yield mutual benefits as innovation, diversification and technological up-gradation are the key strategic priorities of Bangladesh’s apparel industry, said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan on Monday.
He made the remarks in a meeting with Korean Ambassador to Bangladesh Park Young Sik in Dhaka while BGMEA Director Neela Hosna Ara, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Consul at the Korean Embassy Kim Jeong ki were also present.
During the meeting, they discussed ways to add pace to the burgeoning bilateral relations between Bangladesh and Korea through deepening cooperation in various promising fields, according to a media release.
Faruque highlighted the growing interests of Bangladesh’s RMG industry in diversifying into non-cotton products, including high-value fashion items based on manmade fibre and technical textiles. He spotlighted the prospect of direct or joint venture investments from Korea to Bangladesh in non-cotton textiles, man-made fibre-based yarns and fabrics, and functional fabrics like polyester, viscose, spandex, and mélange.
Bangladesh is a promising destination for Korea to export its MMF, textile machinery, chemical dyes and other raw materials, he said, adding that, on the other hand, Korea is a potential garment export market for Bangladesh. So, there lies mutual benefits for both sides, Faruque Hassan opined.
They also discussed possible areas where Bangladesh and Korea could collaborate and engage to boost bilateral trade and investment, particularly in apparel and textile industries of both countries.
The BGMEA president appraised the envoy of BGMEA’s initiative to organise the Bangladesh Apparel Summit in Korea in November 2023 and sought his support in this regard.
