Dhaka: Bangladesh has the potential to capture 12 percent of the projected US$375 billion global man-made fibre (MMF) apparel market by 2030 through policy reforms, investment promotion and industrial upgrading, Bangladesh Foreign Trade Institute (BFTI) Chief Executive Officer (Additional Charge) Dr Saif Uddin Ahammad has said.
Speaking to BSS, Dr Ahammad said the global apparel industry is rapidly shifting from cotton-based products to man-made fibre garments, creating significant opportunities for Bangladesh to diversify its export basket and strengthen its position in international markets.
“Bangladesh cannot afford to miss this transition. Capturing a meaningful share of the global MMF market is essential for sustaining export growth, strengthening competitiveness and securing the future of the country’s apparel industry,” he said.
Referring to a recent study, he said the global MMF apparel market is expected to reach US$375 billion by 2030, and Bangladesh should set an ambitious target to secure a significant share of that market as part of its long-term export growth strategy.
According to Dr Ahammad, the roadmap aims to transform Bangladesh into a regional hub for man-made fibre apparel through phased reforms, including the removal of policy barriers, attraction of domestic and foreign investment, strengthening of backward linkage industries and enhancement of technological capabilities.
He said the government’s priorities include tariff rationalisation on MMF raw materials, faster approval of foreign direct investment (FDI), expansion of domestic polyester staple fibre and synthetic yarn production, access to affordable financing and development of a skilled workforce.
Despite being the world’s second-largest apparel exporter, Bangladesh remains heavily dependent on cotton-based garments, while global demand is increasingly shifting towards synthetic and blended fibre products, he noted.
“Expanding MMF production is no longer simply an opportunity; it is an economic necessity as Bangladesh prepares for the post-LDC trading environment,” Dr Ahammad said.
He stressed that stronger policy support and coordinated implementation would enable Bangladesh to compete more effectively with leading producers of man-made fibre garments.
The BFTI chief also recommended extending bonded warehouse facilities, introducing dedicated credit schemes for MMF manufacturers, encouraging technology transfer and promoting higher-value products such as activewear, sportswear and technical textiles to diversify the country’s apparel exports.
Expressing optimism about the sector’s future, Dr Ahammad said timely implementation of the government’s roadmap, combined with close collaboration between the public and private sectors, would help position Bangladesh as a major global supplier of man-made fibre apparel over the coming decade.
