Bangladesh Shoemaker Expands Business With China

Fortuna Bangladesh is preparing to diversify its footwear business by improving its manufacturing capability. A Chinese company will join. Bengal God of wealth plans to set up the first shoe mold factory in September.

Previously, the fortune group has invested 560 million Taka, set up new factories and imported high-tech machines.

Fayez Tahir, chief executive of Bangladesh's God of manufacturing and retail department, said that in February, a factory was built at Kunia (Gazipur) in Cunha, Fayaz, with the aim of expanding the company's advanced production equipment to 6000 pairs of shoes per day, compared with 2500 production capacity.

Moreover, Chinese buyers are now entering Bangladesh, as China's labor costs are rising.

In addition, many European buyers are also eyeing Bangladesh's export advantage to EU countries, and 16.5% of the extra tax on shoes exported from China.

Because of the anti-dumping rules set by the WTO, India and China can not produce leather products of high quality and low price. Therefore, orders from Japan, France, Germany, Italy and Canada are fast flowing into Bangladesh enterprises.

Previously, India, Vietnam and China were the biggest exporters of leather shoes.

According to Tahir, the fortune God shoes company will be managed by foreigners. For example, they will employ Chinese experts in charge of technology and manufacturing departments. They choose American designers to be responsible for the company's creative and design departments.

Bangladesh's overall leather shoes market is 17 billion Taka, of which 45% is used for export.

About 6 million pairs of leather shoes are exported each year.