Hyosung Corporation is said to be known for its range of fibre products including creole, spandex yarn, aerocool, askin, polyester, and nylon yarn, and stands throughout the global fibre industry. Credit: Shutterstock

During a visit to Hyosung Corporation headquarters in South Korea on 28 October 2023, Hassan led a meeting focused on mutual trade interests.

The meeting also considered the possibility of Hyosung establishing a manmade yarn and fabric textile industry plant in Bangladesh.

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Hassan emphasised that Bangladesh’s textile industry has maximised its potential in cotton-based apparel production and is now shifting its attention towards the growing non-cotton garment sector.

Hassan also highlighted Hyosung’s significant global market share in spandex production, positioning the corporation as an ideal collaborative partner in Bangladesh’s aim to expand its non-cotton textile manufacturing capabilities.

Hyosung is known for its range of fibre products including creole, spandex yarn, aerocool, askin, polyester and nylon yarn which are sold across the globe.

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BGMEA’s delegation also included vice president Shahidullah Azim and director Asif Ashraf and M. A. Jabbar, managing director of DBL Group, Engr. Md. Shafiqur Rahman, managing director of Hams Group, Ashaab Adeeb Hassan from Giant Group, and representatives from the International Finance Corporation (IFC), including Ms. Nuzhat Anwar senior country officer of IFC Dhaka and Ms. Nishat Chowdhury programme manager of IFC’s “Partnership for Cleaner Textile: PaCT.”

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On Tuesday (13 February), the president met with Indonesian Ambassador to Bangladesh, H.E. Heru Hartanto Subolo, to enhance bilateral trade, particularly in the apparel and textile sector.

BGMEA urged Subolo to encourage Indonesian businesses to invest in the man-made textile sector in Bangladesh, highlighting the promising prospects for a mutually beneficial partnership.

BGMEA explained that the discussion included a range of trade-related matters, with both parties expressing a strong interest in identifying new avenues for collaboration, aiming to maximise the full potential of mutual trade and investment.