Bangladeshi RMG products are mostly destined towards the US and EU. Back 1996-97, Bangladesh was the seventh and sixth largest attire exporter to the USA and European Unionrespectively. The market was powerful in exploring the opportunities in markets awayfrom EU and US. In FY07, an excellent turnaround was observed in exports to thirdcountries, which having a negative expansion in FY06 rose three-fold in FY07, whichhelped to record twenty-three. 1 percent total export progress in the RMG sector. It is anticipatedthat fashionable of market diversification is going to continue and this will help to keep thegrowth impetus of export earnings. As well a recent WTO review points outthat Bangladesh has not been capable of exploit completely the duty cost-free access to EU that itenjoys. While this is certainly pointed out to get due to rigid rules of origin (ROO) criteria, therelative stagnation in exports to EU requires further research. Product Variation
The growth design of RMG exports could be categorized in two distinct phases. Duringthe initial stage it was the woven category, which offered the most. Second phase isthe emergence of knitwear items that power the latest double digit (year-on-year)growth starting in FY04. Inside the globalized economic system and constantly changing fashion world, item diversification is the key to ongoing business achievement. Starting with a fewitems, the entrepreneurs with the RMG sector have also been capable of diversify the item base which range from ordinary t-shirts, T-shirts, trousers, shorts, pajamas, ladies andchildren's wear to sophisticated quality value items like quality suits, top quality jeans, outdoor jackets, sweaters, stitched wear etc . It is obvious that value addition comes with mostly inthe designer items, and the quicker local internet marketers can capture on to this trend the brighter end up being the RMG future. Backwards Integration
RMG industry in Bangladesh has proved by itself to be a strong industry and can be a catalyst for further...