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China Imports Leather Goods From Bangladesh For 81.73%

2008/6/18 0:00:00 62

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China and Bangladesh formally established diplomatic relations in October 4, 1975, and bilateral relations have developed rapidly since then.

The friendly and cooperative relations between the two countries in the political, economic and cultural fields have been consolidated and strengthened.

My exports to Bangladesh mainly include textiles (47.23%), machinery and pport equipment (30.1%), chemical products (8.02%), metals and metal products (4.26%), iron and steel (1.15%), petroleum and petroleum products (0.47%), and so on. Currently, imports from Bangladesh mainly include leather and leather products (81.73%), textiles and related products (4.17%), frozen foods (3.81%) and jute (2.66%).

Bangladesh has a population of 145 million and its market is growing.

Textiles are the largest export industry in the country. The fast growing garment industry accounts for 76% of the total export volume. Bangladesh exported 7 billion 500 million dollars in garments and ranked five among the top five in the world.

By 2010, the export target will be set at US $10 billion.

Bangladesh currently has 247 private spinning mills, with 5 million 200 thousand production capacity, 365 weaving factories, and 900 million cubic meters of grey cloth.

There are also 1 billion 100 million meters of grey cloth produced by semi mechanized / mechanized power looms and hand looms, and more than 4000 garment factories and 4 million 500 thousand workers.

Although it is generally believed that the post quota era is unfavorable to it, the textile and garment industry in Bangladesh has maintained a momentum of growth in 2005~2006.

Because of the WTO's restrictions on the protection of Chinese textiles, some American buyers have shifted their orders from China to Bangladesh.

Moreover, Bangladesh enjoys the treatment of the exemption market under the EU's GSP and EBA.

Bangladesh exports to Canada, Australia, Japan, Norway and other countries to enjoy duty-free market entry treatment.

To speed up its economic development, the Bangladesh government attaches great importance to attracting foreign investment.

The government has promulgated a series of financial and non-financial incentives and policies, including tax holidays, cancellation of all non-tariff barriers, tax free import of capital machinery, and provision of cash assistance for exporters to purchase cloth from the country.

Bangladesh also followed very free and open import practices.

Bangladesh's currency is stable and its inflation rate is low.

Despite fierce international competition, Bangladesh can compete with any other country in textile and clothing exports.

Huge potential and market opportunities have led to the continuous growth of the textile industry in recent years.

Now is the opportunity to enter the Bangladesh market.