South Korean Ambassador in Dhaka Lee Yun-Young on Thursday said the
readymade garment (RMG) sector in Bangladesh could thrive further
through diversification of its export destinations. The RMG industry
in the country has largely been depending on the buyers of its major
export destinations – Europe and the United States – and
diversification of the export destinations could prove to be more
rewarding than the status quo, he said. Lee Yun-Young was delivering
a lecture on a topic, titled ‘All About Korea and Korea-Bangladesh
Relation’, at Bangladesh Institute of International and Strategic
Studies (BIISS), as the third lecture of the BIISS Country Lecture
Series. The South Korean envoy said the volume of RMG goods import
by South Korea is worth US$ 6 billion a year, mostly coming from China
and Indonesia. “RMG manufacturers can find good partners in Korea…
there’s room for it,” he said. According to information of the
Export Promotion Bureau (EPB), the country exported garments worth
around US$ 21 billion in the fiscal 2012-2013. Of the amount, nearly
US$ 15 billion was exported to the USA, Canada and EU countries.
Speaking on the occasion, BIISS director general SM Shafiuddin said
both Korea and Bangladesh are now closely working in the fields of
trade, investment and human resource development, and there is an
ample scope for further expanding and developing the partnership in
the coming days. – UNB
