Bizdata Insights Main Logo

BizData Insights

BD Can Boost EU Garment Exports with Recycled Products

Industry: RMG & Textile

Speakers at an event in Dhaka suggested that Bangladesh should produce recycled garment products meeting global environmental standards to boost exports to the EU. The recently introduced EU Strategy for Sustainable and Circular Textiles emphasizes transparency and sustainability in the textile value chain. Bangladesh’s apparel exports to the EU totaled $28.6 billion in fiscal 2022-23, declining to $25.44 billion in fiscal 2023-24, a 6.07% drop. The EU and UK account for over 60% of Bangladesh’s garment exports, with apparel products comprising over 93% of total shipments. The CEO of BUILD stressed the need for new strategies and market analysis. Collaboration between EU and Bangladesh stakeholders is crucial for a sustainable textile sector. Bangladesh’s garment sector faces challenges, but local entrepreneurs are willing to invest in a circular economy. Suggestions include formalizing informal sectors like garment waste recycling and developing local regulations. Bangladesh Bank promotes sustainable finance and green banking, with targets set for green financing and investments in renewable energy and the circular economy.

Source for more details:

Related News

Number of LEED-Certified Garment Factories Reach 220

June 13, 2024

Two additional readymade garment factories in Bangladesh obtained LEED certification this month, bringing the total number of certified factories to 220, up from 218 as of May this year. LEED, which stands for Leadership in Energy and Environmental Design, is a globally recognized green building rating system focusing on environmental responsibility and energy efficiency.

BD Can Boost EU Garment Exports with Recycled Products

June 11, 2024

Speakers at an event in Dhaka suggested that Bangladesh should produce recycled garment products meeting global environmental standards to boost exports to the EU. The recently introduced EU Strategy for Sustainable and Circular Textiles emphasizes transparency and sustainability in the textile value chain.

Eastern Bank Introduces Co-Branded Credit Cards for BKMEA

June 11, 2024

Eastern Bank has launched co-branded credit cards tailored for the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) members and staff. These EBL-BKMEA credit cards are available in Visa Platinum and Visa Signature variants.

Apparel Leaders Demand Extended Cash Incentives Until 2032

June 10, 2024

Apparel industry leaders have urged the government to extend cash incentives on export receipts until 2032, in line with WTO guidelines for LDC graduating countries. The call was made at a joint event by BGMEA, BKMEA, and BTMEA. The leaders argued that continuing these incentives is essential for maintaining competitiveness, citing examples from other countries like India.

Bangladesh Falls Behind in Securing US Garment Orders

June 9, 2024

Bangladesh is struggling to capture US garment orders shifting from China, with inefficiency, long lead times, and an energy crisis cited as primary reasons. According to the Office of Textiles and Apparel (OTEXA), Vietnam surpassed China in US garment shipments during the first four months of 2024, while Bangladesh experienced a 14.44% decline in exports to the US, totaling $2.30 billion.

Minimum Tariff Value Increased for Cotton Fabrics

June 8, 2024

In the proposed budget for the fiscal year 2024-25, Finance Minister suggested rationalizing the minimum value of certain imported products, such as cotton and synthetic fabrics, to safeguard the local industry.

Related News

Number of LEED-Certified Garment Factories Reach 220

June 13, 2024

Two additional readymade garment factories in Bangladesh obtained LEED certification this month, bringing the total number of certified factories to 220, up from 218 as of May this year. LEED, which stands for Leadership in Energy and Environmental Design, is a globally recognized green building rating system focusing on environmental responsibility and energy efficiency.

BD Can Boost EU Garment Exports with Recycled Products

June 11, 2024

Speakers at an event in Dhaka suggested that Bangladesh should produce recycled garment products meeting global environmental standards to boost exports to the EU. The recently introduced EU Strategy for Sustainable and Circular Textiles emphasizes transparency and sustainability in the textile value chain.

Eastern Bank Introduces Co-Branded Credit Cards for BKMEA

June 11, 2024

Eastern Bank has launched co-branded credit cards tailored for the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) members and staff. These EBL-BKMEA credit cards are available in Visa Platinum and Visa Signature variants.

Apparel Leaders Demand Extended Cash Incentives Until 2032

June 10, 2024

Apparel industry leaders have urged the government to extend cash incentives on export receipts until 2032, in line with WTO guidelines for LDC graduating countries. The call was made at a joint event by BGMEA, BKMEA, and BTMEA. The leaders argued that continuing these incentives is essential for maintaining competitiveness, citing examples from other countries like India.

Bangladesh Falls Behind in Securing US Garment Orders

June 9, 2024

Bangladesh is struggling to capture US garment orders shifting from China, with inefficiency, long lead times, and an energy crisis cited as primary reasons. According to the Office of Textiles and Apparel (OTEXA), Vietnam surpassed China in US garment shipments during the first four months of 2024, while Bangladesh experienced a 14.44% decline in exports to the US, totaling $2.30 billion.

Minimum Tariff Value Increased for Cotton Fabrics

June 8, 2024

In the proposed budget for the fiscal year 2024-25, Finance Minister suggested rationalizing the minimum value of certain imported products, such as cotton and synthetic fabrics, to safeguard the local industry.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here