The Millennium University Journal Vol. 2, No. 1; 2017 ISSN 2225-2533 Published by The Millennium University 25 Experience in Readymade Garments Export: A Study on Global Context Dr. Anup Kumar Saha Assistant Professor Department of Accounting & Information Systems University of Dhaka, Dhaka, Bangladesh Md. Sajidul Islam Assistant Professor Netrokona Government College, Netrokona, Bangladesh E-mail: sazidulislam@yahoo.com Abstract This research investigates potential markets for Readymade Garments (RMG) sector to facilitate the sustainable development goal (SDG) of Bangladesh. The economic contribution from RMG through export income, industrialization and employment to the overall economy of the country is on an increasing trend. This research takes a mixed approach based on both primary interview and secondary data on the RMG sector potentials in the country. This study is timely, as the recent financial crisis in the developed world has drawn an element of threat on the sustainability of this sector. This calls for search of alternative markets, which are less vulnerable to such global financial crisis. This study suggests a few potential markets, which may become prospective alternatives, such as China, Brazil, Russia, South Africa and India. Keywords: RMG, Knitwear, Woven wear, Export Promotion Bureau (EPB), BGMEA, BKMEA, BRICS. 1. Introduction The role of the readymade garments (RMG) industry in the economy of Bangladesh is very important. RMG sector makes the largest contribution towards the enhancing economy of Bangladesh. RMG industry contributes to the foreign exchange earnings, export earnings, poverty alleviation, employment creation, and empowerment of women (Haider, 2007). The potentiality of RMG sector is very bright in Bangladesh (Robbani, 2000). Thus, the sustainability of this sector is necessary for the development of the national economy. Under current world trade and financial situation, the RMG export needs to be diversified into new untapped markets. This would ensure the sustainability of the sector. Exports increase significantly to other BRIC countries. If Bangladeshi apparels can also be exported to less conventional destinations in addition to the conventional market, that would ensure a diversified growth. In fact, this alternative market contributed positively to our sustainable export during the last global economic crisis. Most developed countries suffered including USA and the EU, still Bangladeshi RMG export sustained because of its alternative markets. The entrepreneurs, mostly the apparel makers are seriously looking for new markets due to the acute impact of the financial crisis in developed countries, which are the main markets for our RMG products. This research investigates potential markets for Ready Made Garments (RMG) sector to facilitate the sustainable development goal (SDG) of Bangladesh. This research also explores the importance of RMG sector for the export revenue of Bangladesh. This paper aims to explore alternative markets for RMG export besides the conventional markets we have. This will ensure the sustainable and continuing export revenue in the present competitive and ever-changing world economy. This research is designed by six sections. Following is the literature review. Third section talks about conceptual framework of the study. Research methodology is described in section four. Fifth section comprises of major findings and analysis. Finally, the fifth section presents concluding remarks with policy implications. 2. Literature Review Bangladeshi ready-made garment (RMG) industry emergedin the late 1970s and become a major sector in the national economy very quick (Haider, 2007). Delahanty (1999) discovered that average garment manufacturing