Bangladesh’s incremental exports to China in the recent years are being considered as a major turning point in boosting exports to one of the most lucrative global destinations. Currently, Bangladesh enjoys duty-free and quota-free access for 4,788 products to the Chinese market, accounting for around 67 per cent of the country’s export products. Consequently, the volume of exports to China has shot up more than four times in the past four years. Major items in the list include readymade garments and textiles, leather and leather goods, jute and jute-yarn.
Plagued with rising wages, Chinese manufacturers in textile sector are focusing more on exports than domestic demands which is not only huge but ever soaring. Chinese domestic apparel market is estimated at well over US $ 300 billion annually. Meeting even a small portion of its domestic demand would translate as a massive boost for Bangladeshi exports.
