The two-day Bangladesh Knitwear Show in New York that aims at grabbing a bigger share of the China dominated US market concluded yesterday, drawing a crowd of more than 200 potential knitwear buyers including some leading names.
Based on the response of the buyers, the show's organiser Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) expresses its hopes that in 2006, Bangladesh may be able to export knitwear worth one billion dollars in USA. In the running fiscal, the BKMEA is set to fetch home 400 million dollars from the USA.
"This show was aimed at creating awareness among the US buyers about the quality and competitiveness of Bangladeshi knitwear," says BKMEA President Fazlul Hoque, adding "They used to think we make simple knitwear. At the show, they found out that Bangladesh has gone beyond the basics."
"The buyers upon visit made some spot orders, which were unexpected. Some of them made serious negotiations, which will continue with some of our members in the next few days. Some of them are so impressed that they said they want to visit Bangladesh next months to see the knitwear establishments," he pointed out.
"We are very enthusiastic about the outcome. This effort should continue in order to win the US market. We are hopeful that within the next six months, we will hold a follow-up show in Las Vegas," the BKMEA chief added.
Buyers flew from different American states and Canada exclusively to attend the show showcasing products of 45 knitwear manufacturers. The buyers included names like the QVCAmerica's largest home shopping TV channel, Perry Ellis, Jones Apparel Group, Ann Taylor and Target.
"Many buyers did not have any idea about the quality of Bangladeshi knitwear of the present times," said FA Zaman, managing director of Fakir Knitwears Ltd, a show participant. "They also have concerns about Bangladeshi infrastructure. For instance, they fear shipment delays. And we explained to them the present scenario of our country."
Another participant Dr Muhammed A Moyeen of Pride group noted that Bangladeshi manufacturers were now developing high-end knitwear products, which surprised the buyers.
Due to fierce competition from China, Bangladeshi knitwear had been making little business in the USA over the years. The USA has an apparel market of 180 billion dollars per year and Bangladesh is taking only 4 percent of this market.
"Since the withdrawal of quota system in January, China had been abusing the system and marking an unusual export growth to USA (at a rate of more than 100 percent)," notes Jeanne Atknison, president of Global Marketing Strategies, the company which helped draw American buyers to the show on behalf of the SouthAsia Enterprise Development Facility (SEDF) of the International Finance Corporation.
"This situation pushed the least developed countries (LDCs) like Bangladesh to protest to the US government," she added. Last week the US government decided that China's export to USA cannot exceed 10 percent, while there is no restriction of growth rate for Bangladesh.
"At this point, Bangladesh can increase its exports to the USA as much as it wants. The opportunities are unlimited," she said.
The BKMEA was set to visit Washington Thursday to hold meetings with the American Textiles Association (ATA), the American Apparel and Footwear Importers Association (AAFIA) and the American labour representatives.
"The ATA and the BKMEA share a common interest. Like the BKMEA, the ATA also wants to see lesser domination of China in the textiles-related market. We hope our meeting would strengthen Bangladesh's position in this regard," the BKMEA chief said.
The AAFIA, the biggest apparel importers' platform, will be invited to visit Bangladesh knitwear establishments.
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