Clothing Purchase Orders Poured Into Bangladesh
Despite the global financial recession, many international buyers have gone to Bangladesh, which should be thanked by China, one of the major competitors in Bangladesh, because the price of Chinese clothing items is higher and no longer attractive.
China is no longer interested in labor-intensive industries, such as textiles and clothing and garment sectors, because of the appreciation and high wages of the renminbi against the US dollar, a local buyer from Bangladesh said in Dhaka.
Recently, nearly all the famous international retail giants, including WAL-MART, JC Penny, Martha general store, H&M, Tesco, GAP, Li&Fung, Puma and G-Star, have increased their purchases from Bangladesh.
The recent changes in procurement are due to the fact that Bangladesh has become a crucial destination for international garment and garment buyers because of the fact that Chinese clothing is not cost competitive.
The strong appearance of buyers of appearance Apparel Projects in Bangladesh has dwarfed the growth of local purchasing agencies, because appearance buyers focus on direct sourcing from manufacturers.
By May, there were at least more than 200 new procurement agencies opened in Bangladesh, and in 2007, there were only 150 such procurement agencies, said Hossain, vice president of Bangladesh clothing purchasing Association.
Some international purchasing giants, such as IKEA of Sweden, have established liaison offices in Dhaka to achieve any direct business dealings with manufacturers.
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