BGMEA sees investment opportunity in non-cotton textiles sector

Published : 12 Feb 2024 09:11 PM

BGMEA President Faruque Hassan on Monday discussed on investment opportunities in the high value-added and non-cotton textiles sector in Bangladesh with during a discussion with JG Lim, Vice President at Hyosung Corporation.

LG Lim paid a visit to Faruque Hassan, President of the Bangladesh Garment Manufac­turers and Exporters Association (BGMEA), in Dhaka on 

February 12. 

The visit, which included Noh Chy Chy Woo, Country Head, and Md. Akter Hossain, Business Development Manager of Hyosung Corporation, aimed to discuss investment potential in Bangladesh and possible avenues of collaboration for mutual trade benefits.

The meeting followed a previous delegation visit, led by BGMEA President Faruque Hassan, to Hyosung Corporation in October last year.

Both sides also discussed the possibility of technical collaboration between Hyosung Corporation and Bangladeshi companies, with a specific emphasis on enhancing capacity in manufacturing garments using nylon, polyester yarns, and spandex fabrics.

During the meeting, BGMEA President Faruque Hassan highlighted the industry’s growing interests in diversifying into non-cotton products, particularly high-value fashion items based on man-made fibers (MMF) and technical textiles.

He urged Hyosung Corporation to consider investing in the non-textile sector of Bangladesh, highlighting the country’s strategic position in the global supply chain and its favorable business environment. 

Hyosung Corporation is a leading fiber manufacturer producing world-class products, including creora, spandex yarn, aerocool and askin, polyester, and nylon yarn.