To expand international trade, the Government of Bangladesh is actively conducting feasibility studies aimed at signing possible FTAs/EPA with several major trading partner countries, including Australia.

On 19 November, a meeting was held in the conference room of the Ministry of Commerce, chaired by the Commerce Secretary, where Bangladesh’s strategic position regarding future trade agreements was discussed, with special focus on the proposed EPA with Australia. BGMEA Director Faisal Samad was present at the meeting and highlighted the overall situation of the garment industry and key perspectives on behalf of the apparel sector.

He stated that despite Bangladesh’s strong position as the world’s second-largest apparel exporter, the gap in market share with China in the Australian market remains wide and challenging. China holds a 57% share of Australia’s apparel imports, whereas Bangladesh’s share is only 11%. He said that Bangladesh should aim to double this share over the next decade, which will require a collective effort including government policy support, diplomatic strategies, and strategic coordination with business associations.

He further mentioned that current market achievements are primarily the result of individual initiatives taken by entrepreneurs, and now a more organized national approach is essential for substantial expansion. In this regard, the Ministry of Commerce, as the guardian ministry of the sector, can take the lead. The Ministry of Commerce, Ministry of Foreign Affairs, Export Promotion Bureau, and BGMEA can collaborate to develop a masterplan for market access and future FTAs for Bangladesh.

Key strategic priorities that emerged during the discussion include strengthening backward linkage industries, diversifying cotton import sources, and rapidly shifting towards man-made fiber and wool-based products to meet changing market demands.

The meeting concluded with a decision to hold a series of follow-up meetings on this matter, and BGMEA will present its detailed and well-considered future action plan in the next session.