Bangladesh's BGMEA seeks direct or JV investment from S Korea in MMF

29 Aug '23

1 min read

Faruque Hassan, president of the BGMEA & Korean ambassador to Bangladesh Park Young Sik. Pic: Embassy of the Republic of Korea in Bangladesh/Facebook

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The Bangladesh Garment Manufacturers and Exporters Association recently sought possible direct or joint-venture (JV) investment from South Korea in his country's non-cotton textiles, man-made fibre yarn and fabric sectors.
BGMEA president Faruque Hassan conveyed this to South Korean ambassador to Bangladesh Park Young Sik during a meeting.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently sought possible direct or joint-venture (JV) investment from South Korea in his country’s non-cotton textiles, man-made fibre (MMF) yarn and fabric sectors.

The potential for joint-venture investments also covers the areas of functional fabrics like polyester, viscose, spandex and melange.

BGMEA president Faruque Hassan conveyed this to South Korean envoy to Bangladesh Park Young Sik during a meeting, a BGMEA press release said.

Both sides discussed ways to add pace to the burgeoning bilateral relations through cooperation in various fields having potential.

Bangladesh is a promising destination for South Korea to export its MMF, textile machinery, chemical dyes and other raw materials, Hassan said, while the latter is a potential garment export market for the former.

BGMEA will organise the Bangladesh Apparel Summit in South Korea in November this year, the envoy was told.

Fibre2Fashion News Desk (DS)

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