TAD Logistic has launched direct cargo flights between Dhaka to Incheon (South Korea).
The third flight was operated last Saturday, said a media release on Monday.
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According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), this fiscal year, Korea will export a diverse range of garments such as underwear, denim, shirts, jackets and pullovers worth $1 billion.
Bangladeshi entrepreneurs now have an opportunity to capture the Korean market as garment manufacturing is increasingly moving out of China due to continued cost increases, business people say.
Korea currently sources 34% of its apparel demand from Beijing.
Tad Group Managing Director, Md. Ashikur Rahman Tuhin said, ” This direct flight will operate twice a week. Based on demand, we want to increase the number of flights to five per week. This will increase the export of perishable products from Bangladesh. The major exports from Bangladesh to South Korea are leather, leather products, crab, RMG, fish and human hair.”
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He also said that now entrepreneurs are looking for reliable options to import and export products to keep pace with market demand and maintain business continuity. This service will save time and ensure the arrival of any urgent product within one day.
According to a data released by the Export Promotion Bureau (EPB), Bangladesh’s share of the Korean apparel market has been increasing since 2017, albeit at a slower pace, and in fiscal year 2022 it earned $440 million in export revenue, which is more than 4%.
Source: United News of Bangladesh