Dhaka: Bangladesh is on the verge of becoming the world's leading apparel exporter, according to Kiak Sung, the founder of Korean EPZ. Sung emphasized the potential for Bangladesh to ascend to the top spot with the implementation of strategic reforms. Currently, Bangladesh ranks as the second-largest apparel exporter globally among individual countries.
According to Bangladesh Sangbad Sangstha, Sung discussed these insights during his keynote speech at the Bangladesh Investment Summit 2025. His presentation, titled 'Bangladesh moving forward: through an investor's lens,' was delivered at a session focusing on 'Textile and Apparel' held at a city hotel.
Sung outlined several steps Bangladesh must undertake to achieve the top position, including the adoption of advanced technology, enhancement of workers' skills, and the establishment of domestic production facilities for man-made fibers. He also stressed the importance of policy support and increasing the number of bonded warehouses, which would facilitate faster access to raw materials and enable more efficient production and export of finished goods.
Discussing recent trade developments, Sung noted the temporary suspension of the Trump-era tariff policy offers some relief, while commending the proactive measures taken by the Bangladeshi government in this regard. He also highlighted the necessity for value-added production, urging a focus on high-value garments to maintain competitiveness in the global market.
Anwar Hossain, Administrator of BGMEA and Vice-Chairman of the Export Promotion Bureau, also contributed to the discussion, reinforcing the significance of the apparel sector to Bangladesh's economy.