The global top suppliers of machinery for the textile and apparel industries saw Bangladesh as highly potential for their machinery products as the textile and apparel industries are gradually expanding riding on the shifting of work orders to Bangladesh.
The 17th Dhaka International Textile and Garment Machinery Exhibition (DTG) 2023, the largest textile and garment machinery expo in South Asia, began on Wednesday at the International Convention City, Bashundhara (ICCB) in Dhaka.
Following a three-year hiatus caused by Covid-19, the international vendors are now presenting capital equipment and textile products at the expo.
The exhibitors are optimistic about capturing the more than $4 billion textile and apparel machinery market in Bangladesh, which is experiencing a 20% year-over-year sales growth due to its excellent textile and apparel production capabilities.
Gianpiero Valsecchi, sales area manager of Santoni, an Italian manufacturer of textile machines with operations in China, told the media that Bangladesh is a good market for the company because business rose even during the Covid-19 period.
He also said that the last two years, the business grew roughly 40% year on year in Bangladesh despite the Covid-19 impacts.
He also said that Bangladesh will continue to grow its textile and garment business as global clothing retailers and brands are shifting the work orders here from other countries.
However, currently, the demand for clothing items is a bit low as an outcome of the Russia-Ukraine war, but it will also be corrected soon, he said.
Thomas Streicher, area sales and product manager of Trutzschler, a German machinery company said that Bangladesh is one of his most potential markets as the international retailers and brands are coming here with a lot of work orders noting that Bangladesh has the advantage of a competitive labour force and good know-how.
His company mainly supplies spinning machines and so far, the company supplied 600 machines to his customers in Bangladesh.
Ikuto Umeda, CEO of Shima Seiki (Hong Kong) Ltd, said that Bangladesh is the number one destination for his company as the sales are increasing with high demand from the customers.
Umeda’s company supplied 20,000 units of machinery to 200 local customers over the last seven years.
During the Covid-19 and an ongoing war, European consumers are having a hard time which also slowed down the sales to a bit in Bangladesh, he said.
According to global suppliers, since local business owners invest heavily in the man-made fibre sector to increase their market share, there is an increase in demand for the machinery used to produce these materials in Bangladesh.
The four-day event had 1200 companies from 35 different nations attending.