BGMEA Seeks Japanese Investment In MMF Sector

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BGMEA Seeks Japanese Investment In MMF Sector

Bangladesh garment exporters have demanded removal of trade barriers in Japan to boost apparel shipments to the East Asian nation. There is enormous scope for Japan and Bangladesh to increase trade and investment to derive more mutual benefits, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Hassan spoke in a meeting when Japanese Ambassador to Bangladesh ITO Naoki paid a courtesy call on the BGMEA president at the association's office in Dhaka. They discussed possible ways of expanding trade between Bangladesh and Japan and further deepening bilateral relationship. They stressed the need for removing existing trade barriers to facilitate more trade and investment, according to a statement from the BGMEA. They also expressed willingness to initiate communication between businessmen in Bangladesh and Japan, particularly those who are involved in the fashion industry. Hassan mentioned Bangladesh's intent to increase garment exports to Japan and sought cooperation from the envoy in this regard. He urged Naoki to encourage Japanese businessmen to make investments in potential sectors in Bangladesh, especially in the non-cotton textile sector. The garment sector of Bangladesh is increasingly focusing on apparels made from synthetic fibres to meet the rising demand in the global market. The Japanese envoy hinted at extending incentive facility to apparel factories inside export processing zones against their exports to new markets. He also said Bangladesh should now work more for ease of doing of business to attract Japanese investment. The BGMEA president expressed hope that Japan would continue providing its cooperation to Bangladesh in its march towards more prosperity.