The New Nation - Internet Edition

AS reported recently in the media, Bangladesh's leather products are gaining foothold in the multibillion dollar US footwear market as the hard-pressed American importers following worse recession are turning to competitive sources. In the first half of this calendar year, shoe shipments from Bangladesh to the US increased by 112 per cent helping the local shoemakers reduce the slide in their sales in recession-hit Europe. During the period, Bangladesh shipped more than double the quantity of footwear to the American market than the corresponding period of the previous year, according to Bangladesh Footwear and Leather Goods Exporters Association.

Local leather exporters in recent months found US retailers like Macys or Bostonian and giant wholesalers like Genesco on the list of American buyers. Bangladesh has been spotted by US importers for price competitiveness, one local manufacturer remarked. His joint venture firm with an Italian shoemaker entered American market four years back and made up 12 per cent of its 2008 export turnover from USA and expects to export more this year. In fact, relocations of manufacturing facilities in Bangladesh by some Taiwanese and Chinese shoe manufacturers may also have inspired US importers to rate Bangladesh products high.

The biggest foreign investor in Bangladesh in the garment and footwear sestors, a Korean company, received many times more queries from US buyers in recent months than a year ago. The USA is the world's single largest footwear market with imports in 2008 amounting to $19.07 billion, including $11.34 billion worth of leather shoes. China takes two-thirds of the market. Other major suppliers include Vietnam, Italy, Indonesia, Thailand, Brazil and India. Latest data shows shoe imports from China, Italy, Brazil and Thailand are on the decline while those from the Philippines, Cambodia and Bangladesh were increasing in recent months.