�Brand creation in RMG can double export volume�
STAFF REPORTER
Experts at a discussion yesterday said that brand creation in readymade garment (RMG) sector could double the export volume to nearly $51 billion from $25 billion.
During the discussion titled Market Access and Brand Creation Potentials of Ready Made Garments organised by Bangladesh Foreign Trade Institute (BFTI) was held at its conference room in the capital.
Experts also said time has come for Bangladesh to make jump from RMG export to Brand RMG export.
They said: We need brand creation of RMG in Bangladesh because that will provide us long term plan to sustain in the global apparel market.
It will also increase export volume, create origin brand of Bangladesh and gives us entry into the global brand market, they added.
Shoaib Akhtar, research associate of BFTI, said that Bangladesh is producing products for worlds dominating brands like Adidas, Zara, HM, Walmart etc.
In fact, some of the global brand origin countries even dont have well established RMG industry in their own country.
Akhter said that Bangladesh is producing RMG for global brands but till date there are no influential brands of Bangladesh in the global market.
There is no doubt that we can produce quality products. Because our products are being sold with global brand tags. We export a T-shirt to USA for $2.49 but the same T-shirt is sold for $19 there.
He said that it has become vital for Bangladesh to shift from basic products to high value added products to make more space in terms of growth in export price.
Shubhashish Bose, vice chairman of Export Promotion Bureau, said branding in Bangladesh is limited to domestic market as of now.
Bose however said that RMG is not a traditional product of Bangladesh rather its non traditional.
Our traditional products are jute, Jamdani, Muslin, fish etc and it is easy for us to brand those, but branding RMG will not be an easy task,
he said.
In order to create a global brand, we need to open some outlets exhibiting our brand RMG in different markets. That will incur serious competition, he said adding that it would be easier for us to enter into the market of developing countries than the developed ones.
Sohail Amin Chowdhury, former secretary of commerce said creating brand is not an easy concept. There are many small scale RMG industries in Bangladesh and for all, supplying high end brand product will not be feasible.
I think it will not be possible for individual RMG manufacturer to create a brand and enter into the foreign market. I suggest that some of the large RMG companies of Bangladesh should jointly create a brand and enter into the market, he said. He suggested entering into the market of South Korea, Russia and Indian market because in his opinion, entering into US and European brand market will be
difficult.
Riaz Abdullah, Director General of Ministry of Foreign Affairs said there is a politics in global branding. We still dont have a national supply chain so I think it will be hard to create a global supply chain.
Ali Ahmed, chief executive officer of BFTI, moderated the discussion.
