Bangladesh Plans To Cooperate With Australia To Produce Wool Garments For Export

Bangladesh Business Standard reported on December 15 that at present, Bangladesh mainly imports a small amount of wool fabrics from China, Italy or the United Kingdom for the production and export of high-end clothing. However, due to the lack of raw materials, Meng cannot exert influence in this product field. Recently, Australia, one of the world's largest wool producers, is considering Bangladesh as a substitute country for China's wool processing. A source from the Ministry of Commerce of Bangladesh said that a delegation led by Joe Hall, CEO of the Australian Wool Manufacturers Association, recently visited Dhaka and met with representatives and entrepreneurs of the Bangladesh Textile Manufacturers Association (BTMA). Australia expressed its willingness to provide all kinds of support to develop the potential of Bangladesh wool processing. Meng Textile Mill Association said that Australia is the largest wool producer at present, and 80% of their wool is processed in China. As part of the geopolitical transformation, they hope to reduce their dependence on China and consider Bangladesh as an alternative. In the next five years, the export volume of Bangladesh's wool products will increase from the current US $100 million to US $1 billion.

(Source: website of Ministry of Commerce)