Global Textile Brands Are Increasingly Taking Interest in Investing in Bangladesh

International textile and readymade garment brands are increasingly taking interest in investing in Bangladesh, which clearly indicates the potential of the country’s clothing industry, said Bangladesh Textile Mills Association (BTMA) president Jahangir Alamin during a press conference held prior to the 11th Dhaka International Textile and Garments Machinery Exhibition, DTG 2014, which has opened at the Bangabandhu International Conference Centre (BICC) in the capital city of Dhaka.

Mr. Alamin said that Bangladesh is becoming an attractive destination for foreign investors and in order to take advantage of the situation the BTMA is hosting the four-day DTG fair.

The objective is to introduce entrepreneurs to the latest technology in textile and apparel machineries and equipments, he added.

The BTMA chief explained that the DTG fair is a platform for traders of the readymade garments sector to learn about modern machineries that would help increasing the production.

At the press conference, Mr. Alamin informed that investments in the Bangladeshi textile sector had slowed down last year owing to the shortage of gas and electricity supply to industrial units, the political unrest in the country and high interest rate of bank loans.

According to the BTMA official, investments in the textile sector of Bangladesh amounted to Tk 220 billion in 2013. The Government needs to take effective measures to overcome the barriers in order to support entrepreneurs in fetching foreign and local investments, he added.

Over 850 exhibitors are showcasing a wide variety of state-of-the-art textile and garment technology, machinery as well as spare parts and equipments at the ongoing DTG 2014 fair, which is scheduled to run till February 15, 2014.

Exhibitors are showcasing various machineries and equipments including spinning, weaving, knitting, dyeing-printing and textiles finishing technologies, as well as textiles testing and washing equipments and embroidery, sewing and other related equipments.