In the fiscal year 2022-23, Bangladesh’s leather goods and footwear exports heavily rely on just 10 countries, constituting approximately 80% of total shipments, as revealed in a discussion during the 4th Bangladesh Leather Footwear & Leathergoods International Sourcing Show 2023.
Industry experts stressed the critical need for market diversification to mitigate export risks associated with overreliance on specific markets. Lien Chun Yao, MD of Blue Ocean Footwear Limited, urged Bangladesh to leverage its manpower and resources for global market expansion. Additionally, officials emphasized the importance of adopting strategies to enhance market access and competitiveness.
As Bangladesh faces LDC graduation, efforts are underway to establish bilateral trade agreements with 12 to 14 identified countries. The leather industry’s appeal lies in political stability, abundant raw materials, low costs, skilled labor, and robust infrastructure, fostering competitiveness.
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