Daily Newsletter

15 November 2023

Daily Newsletter

15 November 2023

Denim key to Bangladesh achieving $100bn apparel exports by 2030

During the 15th Bangladesh Denim Expo's opening ceremony, stakeholders highlighted denim exports must double for the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to achieve its $100bn apparel exports target by 2030.

Isatou Ndure November 14 2023

The 15th Bangladesh Denim Expo took place on 8-9 November and featured 80 exhibitors from 12 countries, with around 5,000 registered visitors from home and abroad.

Siddiqur Rahman, former BGMEA president attended the event and addressed the crucial role denim plays in Bangladesh's total apparel exports. He said it is approximately a quarter of the total.

To meet the country's overall apparel export $100bn target, Rahman stressed the necessity of doubling denim exports by 2030, expressing his confidence that brands and retailers would prefer Bangladesh due to its “exemplary progress in workplace safety and sustainability.”

Commerce Minister Tipu Munshi, MP, highlighted Bangladesh's position as the second-largest apparel-exporting country globally and that Bangladesh leads in denim exports to the European Union and the US, even surpassing China.

"The success of Bangladesh's denim export is attributed significantly to the Bangladesh Denim Expo," Munshi remarked while inaugurating the 15th edition of the expo in Dhaka.

At the Bangladesh Denim Expo, founder and CEO of Bangladesh Apparel Exchange (BAE), Mostafiz Uddin, emphasised the vast potential of the Bangladesh denim industry and BAE's role in unlocking untapped opportunities.

BGMEA president Faruque Hassan echoed Bangladesh's commitment to sustainability, citing the presence of 200 green garment factories in the country that are LEED certified by the US Green Building Council (USGBC) .

“Among the world’s top 10 green factories now at least eight are located in Bangladesh,” said Hassan.

Senior vice president of BGMEA, SM Mannan Kochi, touched on the ongoing efforts to ensure the smooth operation of the apparel business in Bangladesh and how the safe business atmosphere was evident in the successful organisation of the 15th Bangladesh Denim Expo.

Ziaur Rahman, the regional country manager for Bangladesh, Pakistan, and Africa at H&M, shared the company's initiatives to reduce carbon dioxide emissions by 56% by 2030. He stressed the importance of regularised schemes for recycling processes and innovation, indicating H&M's collaboration with the Growth and Innovation Fund (GIF) for green innovation.

The Bangladesh Denim Expo included panel discussions with prominent figures such as Joshua Gacutan from the High Commission of Australia, Kazi Faiyaz Murshid from the Ministry of Foreign Affairs, and industry leaders from companies such as Puma, Bluesign Technologies AG, and YKK Bangladesh PTE LTD.

The discussions covered topics such as the future of the Bangladesh apparel industry, transforming human capital, sustainable transitions in the denim industry, and unlocking untapped potential.

Denim Expert Limited managing director and BAE CEO Mostafiz Uddin shared with Just Style earlier this month how international fashion buyers can continue to place orders in Bangladesh with confidence as any unrest due to the protests was limited to a few pockets of activity.

Clothing and footwear ranked among the top 3 sectors by global ecommerce transactions in 2022

Per GlobalData estimates, food and drink, clothing and footwear, and accommodation were the top three sectors by global ecommerce transactions in 2022. Clothing and footwear accounted for 11% of ecommerce transactions in 2022. While consumers may wish to try on clothing and footwear items to ensure a good fit, enhanced technology that offers sizing recommendations and hassle-free returns services has made them more comfortable shopping for these goods online, accounting for the sector’s high share of transactions.

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