Dhaka, Bangladesh (BBN) – China National Textile and Apparel Council (CNTAC) has signed two memorandum of understanding (MoU) with the country’s two apex apparel bodies aiming to strengthen bilateral trade and investment in textile and clothing sector between the countries.
Lin Yunfeng, deputy director of the CNTAC and Shafiul Islam Mohiuddin, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Mohammad Hatem, vice president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) signed the MoUs on behalf of their respective organizations at different venues in the capital Dhaka on Thursday.
The parties will co-operate each-other in expanding trade, industrial development, exploring potential areas for investment and exchanging information on education, science and technology on a regular basis, according to the deals.
“Bangladesh garment industry is booming and it has a very good future. So we’re interested to join in the industry,” Mr Yunfeng told reporters after the signing of the agreements.
“China itself is a huge market for Bangladesh and with its per capita income and standard of living, the need for clothing is also growing there,” Mr. Mohiuddin said, adding that China is an important destination for Bangladeshi apparel for three reasons.
The reasons are — China has a market of huge population and the nation exports goods to other countries and many renowned brands and retailers are now concentrating to open their outlets there.
The visiting Chinese delegation has been urged to invest in the potential high value added products such as suit, blazer and backward linkage spinning and weaving sectors in Bangladesh.
BBN/SSR/AD-06Dec12-10:27 pm (BST)