Bangladesh
Bangladesh is Located in the northeastern part of South Asia. The majestic Himalayas stand some distance to the north, while in the south lays the Bay of Bengal. West Bengal borders on the west and in the east lies the hilly and forested regions of Tripura, Mizoram (India), and Myanmar. These picturesque geographical boundaries frame a low-lying plain of about 1,47,570 square kilometers, crisscrossed by innumerable rivers and streams. Mighty rivers are Padma (Ganges), Brahmaputra (Jamuna), Meghna, and Karnafuli.
Bangladesh offers many tourist attractions, including archaeological sites, historical mosques and monuments, the longest natural beach in the world, picturesque landscapes, hill forests and wildlife, rolling tea gardens, and tribes. The rich flora and fauna and colorful tribal life are very enchanting. Each part of the country offers distinctly different topography, flavors, and delicacies. It is home to the Royal Bengal Tiger, freshwater pink dolphins, and historical temples made of red earth.
Some of the popularly known tourist attractions are Srimangal, where miles of tea gardens are located, Mainamati, Mahasthangarh, Paharpur for archaeology, Rangamati, Khagrachari, Bandarban, Kaptai, and Cox’s Bazar, Khulna, Sundarban, Rajshahi, Dinajpur, Sylhet for sight-seeing, and the Sundarbans for wildlife and the largest Mangrove forest of the world, and, Foy’s Lake for scenic beauty.
Global Ranks
- 8th largest country in the world in terms of population
- 3rd largest Muslim-majority country in the world
- 4th most densely populated country and the most densely populated country in the world has more than 10 million population
- Situated on the Ganges Delta, the largest delta in the world and also the largest wetland in the world
- Cox’s Bazaar is the longest natural sandy sea beach in the world
- 2nd largest garments exporter in the world
- The largest producer of Jute (2nd largely most-grown vegetable fiber in the world)
- Sundarbans (hosted by both Bangladesh and India) has the largest mangrove forest in the world
Economy
Recognitions: Bangladesh is one of the members of the Developing and considered as the Next Eleven Economy of the world in 20 coined by Goldman Sachs.
GDP: USD 4,371.8 at PPP in 2018 (Source: World Bank).
GDP Growth Rate to be forecasted 8% in 2020 (Ref: Asian Development Bank).
Poverty Level: 25% (People living with $2 per day)
Foreign Grant Dependency: 2%
Principal Crops: Rice, Jute, Tea, Wheat, Sugarcane, Pulses, Mustard, Potato, Vegetables.
Principal Industries: Garments & Textiles (2nd largest in the world), Tea, Ceramics, Cement, Leather, Jute (largest producer in the world), Chemical, Fertilizer, Shrimp Processing, Sugar, Paper, Electric and Electronics, Medicine, Fishing.
Principal Exports: Garments, Knitwear, Frozen Shrimps, Tea, Leather and Leather Products, Jute and Jute products, Ceramics, IT Outsourcing, etc.
Principal Imports: Wheat, Fertilizer, Petroleum goods, Cotton, Edible Oil, etc.
Principal Minerals: Natural gas, oil, Coal, white clay, glass sand, etc.
Electricity: 220 Volts AC in all cities and towns
Garment Industry
Bangladesh with strengthening its intellectual and manufacturing base with the strong support of the infrastructural, technological, and IT sector has given it the true feel of global success. Over the years, the country has experienced the development of some regions that specialize in niche products, making it more convenient for international players to source and work in Bangladesh. Some of such garment industry hubs are Dhaka, Chittagong, Comilla, Mongla, and Gazipur. Each region functions as an independent identity, self-sufficient in the technical, raw material, and labor needs of specific products. Export Processing Zones (EPZs): Dhaka, Uttara, Adamjee, Chittagong, Comilla, Ishwardi, Karnaphuli, and Mongla.
Bangladesh has been the second-largest exporter of ready-made garment products in the world for the last three decades exported to over 132 Countries around the world. It’s estimated to double from 2010 to 2015 and nearly triple by 2022. The total export of Bangladesh has crossed the USD 30.18 billion mark for the first time in history which is 13.83% growth during the last fiscal year. The RMG sector provides direct employment to around 4.4 million people, 80% of whom are women. Around 20 million people are directly and indirectly dependent on this sector.
Bangladesh does not only offer a low competitive cost but also ensures the best quality products for the high-end garment products to famous global brands such as Adidas, Benetton, Calvin Klein, Diesel, DKNY, G-Star, Hugo Boss, Nike, Puma, Ralph Lauren, Zara, H&M, Pull&Bear, Barshka, Cropp and Tommy Hilfiger. Bangladesh RMG Sector has duty-free market access to most of the developed countries including the EU, Norway, Switzerland, Canada, Japan, Poland, Denmark, Spain, and Australia.
BGMEA is working to build a safe and sustainable garment industry. The Ministry of Labor and Employment Commission and the Bangladesh Institute of Development Studies found that about 80.8 percent of factories’ buildings have approved structural designs, 85.9 percent of factories have approved layouts, 92 percent of factories have valid fire safety licenses and 55 percent of factories electric generators is located outside of the factory. Under “TREES” (Toward Resource Efficiency and Environmental Sustainability) many garment industry practices in the area of waste management, waste heat recovery, cogeneration, energy-efficient technology, and environmental management systems and encourage them to adopt eco-friendly technologies. Some garments have recently taken a greater step in going towards carbon-free production. The government has taken the initiative to influence the Garment sector to allocate 470 acres of land in Baushia at Munshiganj for setting up a ready-made garment industrial park and also budget 6.5 Million US Dollars for worker’s skill development.
Bangladesh holds high strength both in knit and woven apparel, specializing in T-shirts, sweaters of both woolen and cotton blends, Shirts, denim trousers Jackets, etc. Most units have complete garmenting facilities in-house other jobs like procurement of yarn, knitting, Dyeing, Printing, and Embroidery are given to the outhouse job workers. The hub is equipped with processes to provide innovation and value-addition to knits and woven which are in great demand from the buyers.
