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Bangladesh keen to tap into Malaysia's garment market

Bangladesh keen to tap into Malaysia's garment market
NEW DELHI:
Bangladesh is keen to tap into Malaysia's garment market via a three-day fair in Kuala Lumpur, said a report.

"Malaysia might become one of the biggest markets for Bangladeshi garment items, if it is properly explored," the vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), SM Mannan Kochi, was quoted as saying by news daily, The Daily Star.

"Almost all globally renowned garment retailers and brands have operations in Malaysia. Bangladesh has a good opportunity to grab the Malaysian market via the fair," he added.

Organised by the BGMEA, together with the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Headmaster Events from Aug 14-16, the fair will be held at the Putra World Trade Centre.

According to the report, the fair will also showcase products from the countrys real estate, tourism, handicrafts, jute and jute goods, banks and insurance companies, in a bid to narrow the trade gap between the two countries.

Bilateral trade between the two countries is tilted in favour of Malaysia at present.

Malaysia's exports to Bangladesh in 2012 stood at US$100 million (RM318 million) with imports at US$1.57 billion (RM5 billion) , according to BGMEA.

Of the US$100 million (RM318 million) worth of exports, garment products alone accounted for US$69.19 million (RM219 million).