Vietnam has surpassed Bangladesh as the second-largest apparel exporter to Canada in 2022, benefiting from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Bangladesh’s apparel exports to Canada reached $1.73 billion, a 35.2% increase compared to the previous year, while Vietnam’s exports rose by 46.35% to $1.75 billion. The CPTPP provided Vietnam with duty-free access to the Canadian market, leading to its increased market share. However, experts note that Bangladesh may face tougher competition in the future due to duty impositions after transitioning from a least developed country to a developing one in 2026. The Chinese apparel market share in Canada decreased to 30% in 2022. To address these challenges, experts recommend bilateral and regional arrangements with major trading partners to maintain Bangladesh’s market position.
Vietnam Overtakes BD as Second Largest Apparel Exporter to Canada
Industry: RMG, RMG & Textile
Economic Tag: Export
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