It is high time for country to improve its quality of garment and start export promotion measures as it is facing tough competition from countries like India, China and Mexico.
Country's textile products market share to the US, which was 4.1 percent in 2001, dropped to 2.99 percent in May 2006, according to statistics released by US Office of Textiles and Apparel (Otexa).
Bangladesh market share in the US market is very low compared to other countries like China, which stood at top with 24 percent, Mexico 7.5 percent, India 5.5 percent and Pakistan 3.5 percent.
Apart from declining market share, exports of textile products to the US rose 19.43 percent during fiscal year 2005-06.
Bangladesh textile Export to the US increased from 1108.54 million square meters in 2004 to 1313.67 million square meters in 2005, whereas US' total textile import increased $89.20 billion in 2005 from $83.31 billion in 2004, according to Otexa.
US may put 60 percent of Bangladesh' textile products in sensitive list under WTO's Hong Kong ministerial decision.
marketing@alchempro.com
