Kihak Sung, founder of the Korean Export Processing Zone (EPZ), has stated that Bangladesh is well-positioned to become the world’s leading apparel exporter, provided it adopts the right strategies and undertakes necessary reforms.
Speaking on Thursday (April 10) at the "Textile and Apparel" session during the final day of the Investment Summit held at a hotel in Dhaka, Sung praised Bangladesh's progress in the sector.
"Bangladesh currently holds the position of the second-largest apparel exporter globally among individual countries," he said.
To reach the top, Sung stressed the importance of increasing technological integration, improving workforce skills, and establishing domestic facilities for producing hand-spun yarn.
He also emphasized the need for supportive government policies and a greater number of bonded warehouses, which he said are essential for ensuring quick access to raw materials and boosting production and export efficiency.
Commenting on recent trade developments, Sung welcomed the three-month suspension of tariff measures introduced during the Trump administration, calling it a welcome relief. He commended the proactive role played by the Bangladeshi government in addressing the issue.
Looking to the future, he underscored the importance of value-added production and urged a shift toward high-end apparel manufacturing.
"If we fail to focus on producing higher-value garments, maintaining a competitive edge in the global market will become increasingly difficult," he cautioned.
