BGMEA for more investment in non-cotton textile sector

Increased investment in the non-cotton textile sector is important to propel Bangladesh's move towards high-value garments, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) outgoing President Faruque Hassan said today (14 March).

Faruque highlighted the export potential in non-cotton products during a meeting with Zhejiang Taihua New Materials Co Ltd representatives at BGMEA Complex in Dhaka, reads a press statement.

BGMEA Vice President Miran Ali and newly elected directors Mohammad Sohel Sadat and Mesbah Uddin Khan also were present.

The discussions revolved around exploring investment opportunities within Bangladesh's non-cotton textile sector. Both sides discussed potential collaborations to enhance the manufacturing capacity of Bangladeshi companies in producing garments utilising nylon, polyester yarns, and viscose fabrics.

The outgoing president highlighted the move of Bangladesh RMG sector's move towards non-cotton products, especially high-value fashion items based on man-made fibres (MMF) and technical textiles.

"Bangladesh aims to move up the value chain by diversifying from basic to high-value products, the demand for man-made fibres like polyester, nylon, viscose, and spandex is going up within the garment sector," he said.

"The growing demand for MMF-based fabrics in Bangladesh has created substantial investment opportunities," he added.

He urged Zhejiang Taihua New Materials to capitalise on the investment potential within Bangladesh's manmade textiles, saying that it would yield mutual trade benefits.

Zhejiang Taihua New Materials is a fibre manufacturer renowned for producing world-class yarns and fabrics. The company specializes in spinning, weaving, dyeing, and finishing processes.