Bangladesh’s BGMEA seeks direct or JV investment from S Korea in MMF

The potential for joint-venture investments also covers the areas of functional fabrics like polyester, viscose, spandex and melange.

The Bangladesh Garment Manufacturers and Exporters Association recently sought possible direct or joint-venture (JV) investment from South Korea in his country’s non-cotton textiles, man-made fibre yarn and fabric sectors.
BGMEA president Faruque Hassan conveyed this to South Korean ambassador to Bangladesh Park Young Sik during a meeting.

BGMEA president Faruque Hassan conveyed this to South Korean envoy to Bangladesh Park Young Sik during a meeting, a BGMEA press release said.

Both sides discussed ways to add pace to the burgeoning bilateral relations through cooperation in various fields having potential.

Bangladesh is a promising destination for South Korea to export its MMF, textile machinery, chemical dyes and other raw materials, Hassan said, while the latter is a potential garment export market for the former.

BGMEA will organise the Bangladesh Apparel Summit in South Korea in November this year, the envoy was told.

Fibre2Fashion News Desk (DS)