Bangladesh's export garments are ready to enter the Japanese clothing market, says Marubeni Corporation, one of Japan's top 10 companies in Tokyo. The company will purchase $1 billion worth of garments; Sino-More Company, Japan's second largest textile retailer, has confirmed that they will place orders worth millions of dollars in Bangladesh.
Bangladeshi garments are prepared to enter the Japanese market after two of the largest Japanese apparel companies in Tokyo announced their intention to place major garment orders next year. This will enable Bangladeshi garment exporters to quickly access the Japanese market and secure a large number of orders, said an industry leader.
Mr. Haque, President of the Bangladesh Knitwear Manufacturers and Exporters Association, stated that these orders reflect increasing confidence in Bangladeshi garments within the Japanese market. These orders come at a time when Bangladesh's garment exports have seen the largest quarterly decline in 10 years due to global recession, which has caused a drop in orders from traditional markets such as North America and Europe.
Last year, Bangladesh exported $12.3 billion worth of garments, with 90% going to the US and EU, and only 0.005% to the Japanese market.
Japan is the world's fourth largest textile market, importing over $10 billion worth of clothing annually. Most imports come from Southeast Asian countries like China, Vietnam, Indonesia, and the Philippines. In recent years, Japanese companies have begun shifting their import markets as Chinese products become more expensive, putting pressure on Japanese consumers.
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This article comes from Fashion Coordination - Yi Yuan Network (http://www.daban.org.cn). Please credit the source when re-posting.
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