The average per capita income in the United Arab Emirates (UAE) is more than 43,000 US dollars. In Saudi Arabia it is 20,110, in Kuwait it is 32,383, in Qatar it is 50,605, in Bahrain. 23 thousand 443 and 15 thousand 128 dollars in Oman. Such high per capita income suggests that there is a large market for garments made in these six oil-rich countries listed by the Gulf Cooperation Council (GCC). But Bangladesh’s share in the market is at the bottom. Manufacturers of readymade garments. According to BGMEA, in GCC countries. In the last fiscal year 2020-21, it imported at least1 trillion worth of garments, which is estimated at Tk 75,000 crore in Bangladesh (up to Tk 75 per dollar). Bangladesh has exported only 37 crore dollars or three thousand crore rupees worth of clothes there.
Of this, net worth of 16 crore 72 dollars and 16 crore 92 Dollar oven dress. Bangladesh. Several entrepreneurs in the garment industry told Prothom Ala that the demand for expensive garments is high in the Middle East market. Mainly China, India and Pakistan control the market. From Bangladesh to United Arab Emirates (UAE)ৃ, and relatively cheap garments are exported to Saudi Arabia. A large part of it is again Stocklot’s product. However, the GCC market is very promising. However, there has never been such an attempt to increase the export of Bangladeshi garments. Fazlul Haque, former president of BKMEA, an association of knitwear owners, told yesterday that products from the Middle East, especially GCC countries, are slightly different from other markets in the world. According to Jobba and Alkhalla, Pashak is more popular here.
There may be a good market for Bangladeshi clothes
In fact, a study is needed to find out what kind of clothing is most in demand in the Middle East. According to the Export Promotion Bureau (EPB), Bangladesh exported 31.54 billion worth of garments to various countries in the fiscal year 2020-21, which ended on June 30, despite the Kareena epidemic. This income is 12.55 percent more than the previous fiscal year 2019-20 2,794 million. In the previous fiscal year, 61.8 per cent of garment exports went to the European Union (EU), 16.90 per cent to the United States, 3.17 per cent to Canada and 16.17 per cent to new markets. The largest market for Bangladeshi garments is garments exported from the EU to the GCC market. The amount is not at all low. Last year, the EU exported 250 million euros worth of clothing to Saudi Arabia.
The previous year’s exports were 39 crore euros. Besides, last year it exported 37 crore euros to UAE, 100 million euros to Qatar, 90 million euros to Bahrain and 82 million euros to Oman. The United Arab Emirates is the largest GCC country in the last fiscal year 2020-21. Imports of garments worth ৪ 4.39 billion. Of this, Bangladesh’s share is only 5.14 percent or 22 crore 59 lakh dollars. In the same financial year, Bangladesh’s share of Saudi Arabia’s 302 million garment imports was only 4.24 percent or127 million.
In FY 2021, the UAE is the largest importer among countries
However, Bangladesh’s bilateral trade with the UAE or Saudi Arabia is much higher. Bangladesh’s exports in the last financial year against the import of 820 million from the UAE. It was 290 million. Of this, Pashak was 22 crore dollars. Bangladesh’s exports from Saudi Arabia are only 260 million as against 109 million. Half of it is Pashak. When asked, BGMEA Vice President Shahidullah Azim said, “There could be a good market for Bangladeshi garments in the GCC countries. However, Bangladesh needs to be branded to increase exports there. For this, the commercial councilors in the countries have to take initiative. Clothing exhibition should be organized. We traders from Bangladesh will take part there. Only then will we establish business relations with the traders of GCC countries
