Bangladesh Will Expand Its Exports To Latin America To $400 Million.

Bangladesh is expected to expand its clothing exports to three Latin American countries to US $400 million over the next three years, according to Bangladesh clothing manufacturers and Exporters Association (BGMEA) officials.

Although this large-scale export needs the support of the government, Bangladesh can still raise ready-made clothing exports to three countries (Chile, Brazil and Mexico) to US $400 million, and the total imports of clothing from these three countries totals US $4 billion.

In order to assess, develop and make adequate preparations for Bangladesh's clothing exports to Latin American countries, BGMEA's 13 member delegation visited three Latin American countries.

During the visit, delegates received a huge response from buyers and importers from three countries. Members of Chile, Mexico and Brazil will soon visit Bangladesh to assess their import demand. These countries will also participate in the upcoming 2010 BATEXPO in Dhaka.

Although the total imports of garments in Brazil last year amounted to $767 million 72 thousand, of which 303 million 631 thousand were knitted garments and 463 million 441 thousand were woven garments, but Bangladesh's exports to Brazil totaled $50 million 287 thousand, of which 33 million 559 thousand were knitted garments and 16 million 688 thousand were shuttle woven garments.

On the other hand, Mexico imported $1 billion 947 million 850 thousand last year, of which $982 million 580 thousand was knitted apparel and $965 million 270 thousand for woven garments. Among them, Bangladesh's exports amounted to about $114 million 10 thousand, of which $61 million 760 thousand was knitted apparel and $52 million 250 thousand for woven garments.

Last year, the total imports of clothing in Chile amounted to $1 billion 74 million 830 thousand, of which $517 million 390 thousand was knitted apparel and $557 million 440 thousand for woven garments. Among them, Bangladesh has a market share of US $7 million 470 thousand, of which knitted garments are US $5 million 260 thousand and woven garments are US $2 million 210 thousand.