Experts stressed use of synthetic threads in RMG sector to beat the global competition on the part of the country’s main remittance earning sector.
Bangladesh is the second largest garments exporting country of the world, requiring it to divert to artificial thread to retain the position.The country’s garments entrepreneurs are exporting various items including tea-shirt, shirt, trousers, jersey and pullover, mostly made of cotton threads.
Market of the traditional cotton apparels is on the ebb as buyers are crazy for attractive synthetic dresses, sources said.
According to a survey, demand for synthetic thread has jumped from 70.5 to 72.3 percent in the last decade.
The global market size of artificial thread is $ 15,000 crore and Bangladesh represents only 2 percent.
Bangladesh earned Tk 300 crore from RMG export last year notwithstanding its stake in the global market is 6.8 percent.
It is high time that the country took a coordinated and comprehensive step to flourish apparel sector and boost export earnings, experts opined.Former BGMEA Vice-President Md Shahidullah Azim said earning from synthetic dress is three times the cotton one.
As modernised machine is needed to produce synthetic dress, local entrepreneurs are exposed to capacity building challenge.
Advocating for foreign investment in the sector, economists said businessmen of China and Japan should be encouraged to set up relevant industries in the economic zone in Bangladesh earmarked for them.
If foreign businessmen invest in the synthetic dresses, local entrepreneurs will come forward.