For the last couple of years, a number of global retailers have been sourcing traditional and non-traditional products from Bangladesh in a small scale in a bid to diversify their sourcing base and in recent years the number of importers is increasing gradually.
The retail chains such as Marks & Spencer, JC Penny, Wal-Mart, Tesco and those that mostly buy clothes from Bangladesh, are contacting leading exporters of handicrafts, ceramic, luggage, jute goods, bicycle and some other items to widen sourcing.
Interest of these buyers has opened up an opportunity for some traditional and non-traditional sectors to help boost exports by increasing volumes and reaching new markets.
The global brands became interested in Bangladesh as they have moved to diversify sourcing destinations in the wake of rising production cost of their main supplying country, China.
However, President of Dhaka Chamber of Commerce & Industry (DCCI) M Sabur Khan said this is an opportunity for Bangladeshi exporters to increase their export volumes and reach new markets.
The DCCI president said orders from retail chains like Marks & Spencer, JC Penny and others will facilitate expansion of local industry by creating more jobs and improving quality of goods.
Source: Financial Express( September 07, 2013)
Sayed Farrukh Ahmed
Faculty of Business & Economics
Daffodil International University