Bangladesh aims at a ten per cent share of the global apparel market by 2025 and an eight per cent share by 2022.

This will be done on the back of the diversification of both products and markets. Currently, Bangladesh’s share of the global apparel market is six per cent. The share is expected to cross seven per cent soon. Asian markets such as India and Japan will be the major export destinations for Bangladesh as it looks to earn $100 billion from the sales of apparel items in the global markets by 2030.

Bangladesh is the world’s second-largest garment exporter. Bangladesh’s huge clothing industry is looking for new markets in countries such as Japan and South Korea. Inflation has stifled orders from its key buyers, North America and Europe.Most factories are getting orders of less than 30 per cent of their capacity for the next winter season amid record inflation rates across Europe and the US. Maintaining healthy exports will be crucial for Bangladesh as it struggles with dwindling foreign exchange reserves.

Nine countries -- Canada, the US, Belgium, France, Germany, Italy, the Netherlands, Spain and the UK -- account for more than 70 per cent of Bangladesh's readymadegarment exports.