In response to the financial crisis, Bangladesh wants to compete with China for the knitwear market

Japan is the world’s fourth largest knitwear import market, with imports reaching US$10.37 billion in 2006; China accounts for 86.49% of the Japanese knitwear market, reaching US$8.98 billion; Italy ranks second, accounting for 2.87% . Although Bangladesh currently exports only 6 million US dollars of knitwear to Japan, the Bangladeshi industry believes that the world financial crisis will lead to a reduction in orders from Europe and the United States, and it is necessary to open up new export markets; in addition, the price of Chinese products is high, while Bangladeshi products are relatively cheap and are more popular with Japan. People welcome it, so exports to Japan should be increased.