Fierce competitors from low-cost imports poses a formidable problem to Canadian furnishings producers. Stefan Wille – President of the AKTRIN Furnishings Info Middle – says that the necessity to relocate manufacturing to off-shore websites is more and more turning into a necessity to outlive and prosper within the furnishings enterprise.
The number of the most effective off-shore location requires a continuing re-assessment of the enterprise surroundings and price construction in international international locations. Mexico was once the nation of selection some 10 years in the past, nevertheless it misplaced its aggressive edge to Taiwan, and later to China and Vietnam. In accordance with Wille, ahead trying entrepreneurs proceed to seek for extra advantageous areas and it could very properly be that Bangladesh – with its enormous however nonetheless untapped potential – will change into a furnishings provider to the North American market. The early detection of rising off-shore areas and the well timed hanging of collaborative ventures with native suppliers will give producers a vital aggressive benefit in opposition to different corporations missing this strategic imaginative and prescient, Wille says.
The AKTRIN Furnishings Info Middle – on behalf of the Native Enterprise Funding Centre (LEIC) of Bangladesh – will convey 5 prime Bangladeshi furnishings corporations to Canada with the target of exploring manufacturing out-sourcing alternatives and different types of long-term joint ventures with Canadian furnishings producers.
LEIC is funded by the Canadian Authorities via the Canadian Worldwide Improvement Company (CIDA). Bangladeshi corporations considering coming into into collaborative ventures with Canadian furnishings corporations will qualify for monetary help for pre-investment feasibility research. This permits Canadian furnishings corporations to judge the situations in Bangladesh in addition to the capabilities and necessities of their potential accomplice corporations. This may assist to cut back the enterprise danger related to any international enterprise. To fulfill the precise wants of the Canadian corporations, LEIC may even present help on the implementation part by transferring required applied sciences to Bangladesh, aiding with course of enhancements, coaching the native workers, getting high quality certificates, complying with environmental and CSR rules and extra.
The Bangladeshi economic system is creating at a quick tempo and the federal government has declared the furnishings trade as a “Thrust Sector”. Bangladesh has been named by Goldman Sachs as a rustic with a promising outlook for international direct investments and future development. Earnings, invested capital, dividends, royalties, and administration charges could be freely and absolutely repatriated.
On November 12, 2007 (09:00 am) the Bangladeshi Excessive Commissioner in Canada will open a seminar on the 4 Factors Sheraton Lodge in Toronto (1926 Lakeshore Blvd. West). Throughout this seminar, an summary of the Bangladesh furnishings sector and associated enterprise alternatives might be introduced. For particulars concerning the seminar, contact Mr. Mohammed Hossain, Vice Chairman of the Canada Bangladesh Enterprise Council at 416-833-5206 or email@example.com
Bangladesh enjoys a number of advantages afforded to creating nations. Its’ exports have duty-free and quota-free entry to international locations in Europe and North America. These advantages aren’t granted to the identical extent to most of Bangladesh’s Asian opponents.
Wille explains that Human Useful resource prices in furnishings manufacturing represent over 50% of complete manufacturing prices and Bangladesh provides a considerable benefit on this labor-intensive sector. Wage charges are properly beneath these in China, Malaysia, Thailand, India, South-Korea, Philippines, Indonesia, and Vietnam. Labor is obtainable in abundance and may be very expert in hand-carving. Employees are simply trainable. Along with labor prices, utility prices are additionally most reasonably priced.
Bangladesh stays a creating nation. The furnishings trade remains to be missing progressive designs and worldwide advertising expertise. As a improvement venture by CIDA, Canadian corporations which are contributing to the information switch to Bangladesh will profit from substantial monetary help.
The AKTRIN Furnishings Info Middle has pre-selected a number of Canadian furnishings producers in Ontario and Quebec that look like appropriate candidates for off-shore furnishings manufacturing in Bangladesh. Between November 12 and 23, 2007 the Bangladeshi delegation will go to these corporations for exploratory conferences and manufacturing unit visits. Within the assembly the Bangladeshi visitor will have the ability to clarify the strengths and weaknesses of their corporations and the way a long-term partnership may gain advantage the Canadian furnishings trade. AKTRIN remains to be looking for a couple of further Canadian corporations, inquisitive about assembly the Bangladeshi delegation. Extra info could be obtained from Stefan Wille at 905-845-3474 or firstname.lastname@example.org