According to global brands, Bangladesh has the potential to export readymade garment products worth $100 billion annually within next 10 years. Ziaur Rahman, Regional Head, H&M Group-Bangladesh, Pakistan and Ethiopia says, Bangladesh is one of the major RMG sourcing destinations for the group. The group outsources around 11-12 per cent of total demand from the country annually. Rahman believes, innovation will help Bangladesh achieve new milestones in the sector and reach $100 billion market size in next 10 years.

He urges industry leaders to devise new plans to make Bangladesh the biggest market for global brands in the next five to 10 years. Shafiur Rahman, Regional Operations Manager, G-Star RAW opines, innovation with research and development can help Bangladesh expand its garment industry. His company plans to procure up to denim worth $90 million from Bangladesh. As per Export Promotion Bureau (EPB) data, Bangladesh apparel exports rose 36 per cent to $35.36 billion during the first 10 months.

Knitwear exports increased 37.49 per cent to over $19.24 billion and woven exports surged by 34.23 per cent to nearly $16.12 billion during the first 10 months of the current fiscal year. In current fiscal year, Bangladesh aims to achieve its $50 billion RMG export target.