Business Desk :
The country’s apparel exporters have been urged to enhance their business capabilities in line with evolving business demands as staying competitive requires adaptability.
Change in global business landscape is quicker and competition is stiffer than ever mainly due to rapid advancement in technology and business trends.
“So, we have to keep pace with the changing business landscape and enhance our capabilities in line with the emerging knowledge and technologies to remain ahead in competition in the global market,” said Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
He was speaking at an Iftar Mahfil organized by BGMEA for the valued members of the BGMEA at Radisson Blu in Dhaka recently.
The Centre of Innovation Efficiency and OSH (CIEOSH) — established by BGMEA to support the RMG industry with knowledge, skills and technical know-how to face the future challenges and enhance its competiveness — will be inaugurated in May 2022, Faruque Hassan informed.
He said BGMEA is also working on apparel diplomacy in its efforts to open a window of opportunities for Bangladesh’s RMG industry and realize untapped trade potential.
“We have visited Europe, the USA and Canada, which are our major export market, and held a number of meeting with key stakeholders including Director-General of the World Trade Organization (WTO), Director General of the International Labour Organization (ILO), key personnel at European Union, the President of the American Apparel and Footwear Association (AAFA) and the President and CEO of the Worldwide Responsible Accredited Production (WRAP),” he said.
Discussions and engagement with the stakeholders not only help to strengthen business relations and retain existing trade benefits but also pave the way of new opportunities, he further remarked.
“We to have work on the future priorities of the garment industry, especially more focus on diversification in products, market and innovation in product development and process optimization,” he said.
The industry is also giving priority to shifting from cotton to value-added non-cotton products including technical textiles and the move will require technological upgradation and skills development in the sector
BGMEA President Faruque Hassan highlighted the need for investment in the backward linkage industry to develop own capacity as Bangladesh will have to face the double transformation rules of origin in the post-LDC era.
He said the RMG industry is not only about bringing valuable foreign exchange for Bangladesh through exports, it also serves as a catalyst for socioeconomic development of the country. The industry is also a means for millions to transform their lives.
So building on the achievements we have made so far, we will work unitedly take the RMG industry to new height of glory and continue to contribute to the development of Bangladesh, he added.
