DHAKA, Bangladesh — The apparel and textile industry here hasn’t been immune to the global recession, but Bangladesh’s position as one of the cheapest sourcing nations has shielded it from the worst and even allowed the country to pick up market share.
Bangladesh is the world’s fourth largest apparel exporter behind China, the European Union and Turkey. The country’s apparel exports totaled $12.35 billion last year and the government believes global economic conditions will make more gains possible. The country’s Export Promotion Bureau has set an apparel export target of $14 billion for the fiscal year beginning on July 1. The expectation is that the country will be more price competitive with other leading apparel manufacturing nations, particularly China.
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