Business Desk :
The BGMEA has reinforced the need for more diplomatic efforts to promote bilateral trade between Bangladesh and the USA, especially in increasing garment exports to the country.
“Newer challenges will emerge for Bangladesh in the post-LDC status as the trade facilities currently being enjoyed by the country will no longer be available after the graduation,” said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
“In such a context, Bangladesh needs to step up its diplomatic efforts in our major export markets like the USA to create an enabling environment to expand our trade,” he said.
Faruque made the remarks while exchanging views with Bangladesh Ambassador to the USA M Shahidul Islam in Washington DC on Tuesday during a lunch hosted by the envoy in honour of the BGMEA delegation led by its president.
The BGMEA delegation apprised the ambassador of the present situation of Bangladesh’s RMG industry, its challenges and the areas where the sector is working on to enhance its competitiveness in the coming days.
Diversification in products, especially shift to non-cotton and high-end product segments, market diversification and innovation in product development and process optimisation are some of the priorities for the industry, they said.
The BGMEA chief sought support and cooperation from the Bangladesh Embassy in expanding trade with the USA.
He also called upon Ambassador Shahidul Islam to assist in attracting investment from US businessmen and non-resident Bangladeshis in textile industries.
