How Bangladeshi Ready Made Garments Industry can be competitive in the global Market.
Uddin, Md. (2014)
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Globalization, which is spurred by improved telecommunication systems, developed infrastructure, and transportation, has made the movement of goods and services across borders speedy and thereby emerging different markets into a single complex market. Countries with relaxed trade regimes and liberalized policies usually are better off meriting from global trade. With an open and mild protectionism economy, the Bangladeshi apparel industry nonetheless, appears to flicker for success in the global market. Some proponents of internationalization theories argue the need for enterprises to gain competitive advantage in their local markets before venturing abroad, to this knot is the research objective tied. Hence, the paper is designed to explore and institute structures that will complement existing national trade policies to enhance the internal competitiveness of the Ready Made Garments Industry. Pursuant to the World Bank Group’s classification of economies, Bangladesh appears to be in the developing economy category, nevertheless, tends to exhibit growth prospects year-on-year and has created a reluctant atmosphere for the economy’s desire to explore new and bigger markets. The reluctance of enterprises within the industry internationalizing often ramifies the country’s GDP and benefits accruable from the global market system and serve as bedrock for the choice of the industry. Reckoning the nature of the paper, a qualitative means of gathering data shall be employed with most of the data predominantly collated through interviewing of Bangladesh RMG and BGMEA personnel. With very little researches conducted to improving the well-being of the industry, it becomes glaring the vitality of this paper to ousting structures and programs that can be instituted to intensify the Bangladesh RMG industry’s competitiveness internally.