Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), has underscored the importance of increased investment in the non-cotton textile sector to propel Bangladesh’s move towards high-value garments.
During a meeting with the representatives from Zhejiang Taihua New Materials Co. Ltd, Faruque Hassan highlighted Bangladesh’s export potential in the non-cotton segment.
The meeting, held at the BGMEA Complex in Uttara, Dhaka, was also attended by BGMEA Vice President Miran Ali and newly elected Directors of BGMEA for the 2024-2026 term Mohammad Sohel Sadat and Mesbah Uddin Khan.
The discussions revolved around exploring investment opportunities within Bangladesh’s non-cotton textile sector.
Both sides discussed potential collaborations to enhance the manufacturing capacity of Bangladeshi companies in producing garments utilizing nylon, polyester yarns, and viscose fabrics.
President Faruque Hassan highlighted the move of Bangladesh RMG sector’s move towards non-cotton products, especially high-value fashion items based on man-made fibers (MMF) and technical textiles.
He noted that as Bangladesh aims to move up the value chain by diversifying from basic to high-value products, the demand for man-made fibers like polyester, nylon, viscose, and spandex is going up within the garment sector.
Faruque Hassan said that the growing demand for MMF-based fabrics in Bangladesh has created substantial investment opportunities.
He urged Zhejiang Taihua New Materials to capitalize on the investment potential within Bangladesh’s manmade textiles, saying that it would yield mutual trade benefits.
Zhejiang Taihua New Materials is a fiber manufacturer renowned for producing world-class yarns and fabrics. The company specializes in spinning, weaving, dyeing, and finishing processes.
