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Exporters may clock up $60b from big Asian markets

M Nasir Uddin, chief of Pacific Jeans Ltd, is optimistic about performance in non-traditional apparel markets

Sharier Khan
***Bangladesh can tap Hong Kong, Taiwan, Korea, Singapore, Thailand and Malaysia. But we will face competition from Myanmar, Cambodia and
Laos. This is why we need effective commercial diplomacy..." says M Nasir Uddin, chairman and managing director of Pacific Jeans Ltd***
Bangladeshi apparel exporters can penetrate the major east Asian markets to help the country hit an annual $60 billion mark in the next five years, said M Nasir Uddin, pioneer of tapping non-traditional apparel market.
“All the top fashion retailers of the world are now looking at Bangladesh,” says Nasir, chairman and managing director of Pacific Jeans Ltd, one of Asia's largest jeans makers with 22,000 employees.
Talking to The Daily Star at his Chittagong office last week, he said he sees massive opportunities in the quality sensitive Japan market, where he made a breakthrough a decade back.
Nasir also believes China will become a major importer due to a sharp rise in its own production cost. “In five years' time, China will have to import 35 percent to 40 percent of their apparel demands.”
“At the same time, Bangladesh can tap Hong Kong, Taiwan, Korea, Singapore, Thailand and Malaysia. But we will face competition from Myanmar, Cambodia and Laos. This is why we need effective commercial diplomacy to ensure preferential market access or market access through bilateral or multilateral agreements,” he said. “Presendy we have such a deal with only Malaysia.”
In addition, Turkey and central and Latin American markets will also offer greater opportunity, he added.
But to tap this non-traditional market, suppliers should continuously focus on production efficiency, on-time delivery, capacity enhancement, stricter labour and environmental compliance, value
added and premium product promotion, embrace new technology and efficient supply chain management.
From the government side, there should be greater emphasis on effective commercial diplomacy to bag business friendly treaties.
Nasir strongly advocated setting up new industrial or economic zones in every divisional headquarters with the capacity to create jobs for five to 15 lakh people in each region. The new zones should be provided with sufficient energy, infrastructure and
logistic support, he said. Port operation efficiency and connectivity to the industrial zones need to be improved, he added.
More than 55 percent of the population is below 25 years age, which gives the country a great resource that can be transformed into a skilled workforce.
“Due to high labour costs, appreciation of currency, shortage of labour, etc, China's overall industrial structure will shift to high-end products. This suggests there is huge potential in furniture, toys, household, light
and engineering and other low-end labour-intensive industries in Bangladesh,” he said.
If the government can ensure uninterrupted power supply, power and energy tariff hikes that fuelled nonfood inflation would not hurt the export industries, he said.
Nasir's positive outlook comes from his successful experience in building Pacific Jeans from scratch from 1984, attracting top global brands now. In 1995-96, he approached and impressed Gap, the respected American fashion icon, to
take supplies from Pacific Jeans.
He played a pioneering role in getting into the Japanese market a decade back. “Although Bangladesh had Preferential Market Access (GSP) in Japan, we hardly could utilise the benefit as the Japan market remained unexplored to us," he said. The Japanese apparel market is dominated by China that now holds 80 percent market share, he added.
“Our target was to get deals from Japanese top brand Uniqlo,” says Nasir. "Thanks to cooperation and advice from Tadashi Yanai, the chairman of Uniqlo, we have positioned our company as a trusted supplier in the Japan market.”
“Bangladeshi people are highly respected by the Japanese and vice versa. That is why it is easy to promote Bangladeshi products there. The Uniqlo chairman himself promoted Bangladesh on television. I am grateful to him," he added.
"Bangladesh’s opportunity in Japan is unbelievable in both knit and woven garments. Interested exporters must remember that Japan is very quality conscious; they are very committed to the promised punctuality and they go for transparent business operations,” he said. "In other words, interested companies must be ethical and efficient."
Sharing his experience in growing with his company, Nasir said, "We need to create positive branding for Bangladesh.”
Bangladesh has long suffered from a negative image of a poor country that drew the sympathy of other countries — but not a country with which they wanted to do business, he added.
“We may be branded as the country of fashion and apparel destination," he said.