The Economic Dialogue was held virtually and organised by Japan. Trade officials from both countries participated and discussed various issues during the event. Md Tofazzal Hossain Miah, principal secretary to the Prime Minister, led the Bangladesh delegation. The Japanese delegation was led by Hirai Hirohide, vice-minister for international affairs of Japan’s ministry of economy, trade, and industry.
Last year, Japan imported apparel worth $24.953 billion, with Bangladesh ranking as the third-largest exporter after China and Vietnam. Shipments from Bangladesh grew to $1.340 billion in 2022 compared to $1.165 billion in 2021. Japan’s apparel imports from Bangladesh were affected by the COVID pandemic in 2020, dropping to $1.033 billion from $1.167 billion in 2019. The trade value stood at $1.122 billion in 2018, according to Fibre2Fashion’s market insight tool TexPro.
The Japan-Bangladesh Joint Economic Dialogue explored bilateral trade prospects, particularly in textiles.
Japan, a major textile importer, and Bangladesh, a top global supplier, discussed various issues.
Bangladesh was Japan’s third-largest garment supplier in 2022 with a 5.37 per cent market share, amounting to $1.340 billion in imports.
Trousers and shorts were the most dominant garments in Japanese imports last year, accounting for 36.72 per cent of the total import value. Jerseys and T-shirts held a 19.32 per cent and 17.16 per cent share, respectively, in terms of value.
Japanese fabric imports from Bangladesh also increased, jumping to $1.733 million from $1.108 million in 2021, as per TexPro. However, fabric imports were negligible compared to apparel imports.
Fibre2Fashion News Desk (KUL)
