Bangladesh apparel exporters were given a boost by the South Korean government´s decision to grant duty-free access to over 300 Bangladesh products, including apparel. South Korea, which currently imports over 90 percent of its apparel from China, could switch a portion of its orders to Bangladesh where there is a much cheaper cost base. South Korea is a very important Asian market. Its economy was the 13th largest in the world in 2007 with per capita GDP of 24,600 U.S. dollars, compared to Japan´s GDP per capita of an estimated 38,750 U.S. dollars.

Source: Globecotnews