Bangladesh's Clothing Sector Targets Japan As A Target Market.

Bangladesh's clothing manufacturers said on Sunday that they target Japan as their next big market to offset the drop in orders from the US and Europe.

The US and European orders declined due to the global financial crisis.

In the 2007-08 fiscal year, Bangladesh exported $10 billion 700 million of clothing, up 17% from the same period last year, of which 90% of its products were exported to the United States, Canada and Western Europe.

A major Bangladesh clothing group said that the financial bubble in the traditional market has seriously affected consumer spending, because orders in September dropped by 10% over the same period last year.

Fazlul Hoque, President of Bangladesh knitwear manufacturers and Exporters Association, said: "there are a lot of clouds on top of our heads. Orders in September dropped by 10%, and the garment industry will experience a sharp decline, as we encountered after the 9.11 events in 2001."

Clothing trade is the cornerstone of Bangladesh's manufacturing industry, accounting for 80% of Bangladesh's total exports and 40% of industrial employment.

In the financial year of 2001-02, Bangladesh's clothing sector experienced a negative growth after the downturn in the US economy.

Hoque said they worry that the US and big European countries will experience another long economic setback, forcing Bangladesh to change its focus.

"Japan is the fourth largest importer of clothing in the world," Hoque said.

Last year, we exported $6 million 400 thousand worth of clothing to the Japanese market, while Japan's total clothing imports amounted to US $9 billion 300 million.

In the harsh environment of the future, we must enter the Japanese market. We have selected four items in the Japanese apparel market and we have huge price advantages. "

Bangladesh knitwear manufacturers and Exporters Association, which accounts for 55% of Bangladesh's total clothing exports, has invited 10 top buyers in Japan to inspect Bangladesh's factories this year.