Uruguay could emerge as RMG export gateway to Mercosur market: BGMEA

 
Uruguay could emerge as a key gateway for Bangladesh's readymade garment (RMG) exports to the Mercosur market, one of South America's most influential regional trading blocs, said leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The observation came when Alberto Guani, Ambassador of Uruguay to Bangladesh, paid a courtesy visit to BGMEA office on Thursday.

The BGMEA leaders received the envoy. Its Senior Vice President Inamul Haq Khan. BGMEA Directors Shah Rayeed Chowdhury, Sumaiya Islam and Sheikh Hossain Mohammad Mostafiz took part in the discussion. 

Mostafa Kamrus Sobhan, Honorary Consul of Uruguay in Bangladesh, was present at the meeting. During the meeting, both sides held detailed discussions on bilateral trade and investment, as well as on strengthening cooperation to address post-LDC graduation challenges, said BGMEA in a press release.

At the outset, Senior Vice President Inamul Haq Khan highlighted various aspects of Bangladesh's RMG sector and sought Uruguay's cooperation in increasing apparel exports from Bangladesh to Uruguay.

He said although Bangladesh is the world's second-largest apparel exporter, it has yet to make significant inroads into the Latin American market, adding that the country is keen to tap this untapped potential.

BGMEA Director Shah Rayeed Chowdhury said Uruguay could particularly play a vital role as the main gateway for Bangladeshi apparel exports to wider Mercosur region.

Ambassador Alberto Guani expressed Uruguay's interest in increasing apparel imports from Bangladesh. He also proposed exporting Uruguay's world-class, fully traceable wool to Bangladesh.

Honorary Consul Mostafa Kamrus Sobhan said Uruguay's merino wool carries internationally recognised traceability certification which Bangladeshi garment manufacturers could use to enhance competitiveness in global markets.

BGMEA Director Sheikh Hossain Mohammad Mostafiz noted that importing wool from Uruguay could help Bangladesh diversify its product range and strengthen  position in the Latin American market.

The meeting also focused on the need for signing a Free Trade Agreement (FTA) between Bangladesh and the Mercosur bloc to address challenges following Bangladesh's graduation from Least Developed Country (LDC).

BGMEA Director Sumaiya Islam said if Bangladesh imports wool from Uruguay as raw material and, in turn, secures special trade preferences for exporting ready-made garments under FTA, the country's apparel sector would benefit significantly.

Participants observed that a trade agreement with Mercosur would be mutually beneficial in expanding bilateral trade. In particular, Bangladesh's garment exporters could leverage Uruguay's efficient ports and advanced transport infrastructure to supply products across the entire Mercosur region.

During the meeting, BGMEA Director Shah Rayeed Chowdhury proposed sending a strong trade delegation to Uruguay and the envoy accepted the request.