Global Textile Machinery Sellers Bullish on the Bangladesh Market
International textile and garment machinery sellers are expressing a sense of optimism for a business rebound in Bangladesh in the coming year. Despite the sluggish trend in apparel sales during 2023, attributed to various factors including decreased consumer demand and inflationary pressures, recent developments in the global clothing supply chain are seen as positive indicators.
The textile and garment industry faced challenges in 2023 due to factors like weakened consumer demand following the aftermath of the Covid-19 pandemic and the Russia-Ukraine war. However, recent reports suggest that the industry is poised for a positive turnaround in Bangladesh. Machinery sellers are reporting a surge in inquiries from garment manufacturers, a sign of increased work orders from international clothing retailers and brands.
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Industry representatives are highlighting a notable shift in momentum, pointing towards a more optimistic outlook for 2024. Despite a relatively subdued global business environment, Bangladesh is emerging as a thriving market for textile and garment machinery. The positive trajectory is evident as machinery sellers experience increased interest and engagement from stakeholders in the region.
Hasan Bozkurt from the Turkish company Karmak emphasized the resilience of the Bangladesh market, standing out amidst the overall subdued business scenario globally. While acknowledging that business remains dull worldwide, Bozkurt highlighted the robust demand for machinery in Bangladesh.
Md Tanzilur Rahman, representing Pacific Associates Ltd., a machinery seller offering products from various countries, revealed ambitious sales targets. With a noticeable surge in inquiries, Rahman’s company aims to achieve a sales milestone of US $74 million, underscoring the growing demand for machinery in the region.
The optimism expressed by global textile and garment machinery sellers for the Bangladesh market signals a positive shift in the industry. Despite challenges faced in 2023, the increased inquiries and ambitious sales targets reflect confidence in the recovery of the textile and garment sector in Bangladesh. As the global supply chain adapts to changing dynamics, the resilience and growth potential of Bangladesh’s market become increasingly evident, paving the way for a promising 2024 in the textile industry.
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