Switching to man-made fibre will help Bangladesh apparel manufacturers get higher prices, said André Wissenberg, vice-president of Germany-based Oerlikon Textile GmbH.
"Bangladesh has the potential to switch to the production of synthetic fibre-based textile and apparel to realise greater per unit values in the world market," he made the remarks while addressing a programme at the Radisson Blu Water Garden in the capital recently.
The global consumption of polyester filament and staple fibre has been on the rise whereas the demand for clothing made with cotton has been on the decline, he said and hoped that Bangladesh's investment in the synthetic fibre sector will grow further.
"Buyers are choosing man-made fabrics as substitutes to cotton fibre for sustainability and environmental issues."
"Bangladesh is the world's second-largest exporter of textile goods while Germany is the second largest importer of the products from Bangladesh. Germany and Bangladesh are therefore in close bilateral dialogue," added André Wissenberg.
Synthetic fibre makes up 78% of the world's clothings and the remaining 22% is made of cotton fibre, he said, citing the International Textile Manufacturer Federation.
However, 70% of garments exported from Bangladesh are based on natural cotton while the remaining 30% are made of synthetic fibre.
The global man-made apparel trade stood at around $179 billion in 2019, according to the Federation, with Bangladesh holding only 5% market share. Its rival Vietnam then held 10% of the man-made apparel trade, he added.
Taking part in the programme, Mumbai-based Oerlikon Barmag Vice-President and Sales Director Debabrata Ghosh said Bangladesh has successfully contained the impact of the coronavirus by vaccinating over 120 million population and keeping the engine of the national economy on the right track.
Citing the statement of former US Secretary of State Henry Kissinger who once termed Bangladesh a 'bottomless basket', Debabrata Ghosh said, "Bangladesh is now an Asian tiger."
Dhaka North City Corporation Mayor Md Atiqul Islam and DSM Commodities Chairman and Managing Director Deepok Baral, among others, also spoke at the event, jointly organised by Oerlikon Textile GmbH and Company KG of Germany and Oerlikon Textile India to celebrate the founding centenary of Oerlikon Barmag and the golden jubilee of Bangladesh independence.
Established in 1922, Barmag is one of the world's first companies to construct machines for the large-scale production of synthetic staple fibres.
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