Shipments of ‘Made in Bangladesh’ products to the Asian markets are on the rise, thanks primarily to the increasing demand from several major markets even if Bangladesh still needs to sign trade pacts and diversify products in the continent where the consumer class is expanding fast.
Media reports claimed this citing figures from the country’s Export Promotion Bureau (EPB), as per which, the shipment growth in the Asian market doubled the overall 8 per cent expansion seen in the national exports in 2022-23 even if between July and March of the current financial year, exporters in Bangladesh shipped goods worth US $ 5.26 billion to Asian countries, registering 16 per cent increase from that of US $ 4.54 billion recorded in the previous year.
Meanwhile, speaking to the media, Managing Director of Pacific Jeans Group, Syed Mohammad Tanvir reportedly claimed there are good prospects in the Asian markets but challenges too exist, and went to further add that consumers in these markets are very quality-conscious and there is demand for diversified products.
