Business Desk :
The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has urged RMG sector entrepreneurs to focus on high-value garment export through diversification.
FBCCI President Md Jashim Uddin made the call at the first meeting of the FBCCI’s standing committee on RMG, knitwear and sweaters at the FBCCI office in Dhaka on Saturday.
He also urged the entrepreneurs in the RMG and textile sectors to invest in the man-made fibre sector owing to global market demand.
While Bangladesh is the second-largest exporter of RMG in the world, the country mainly exports relatively cheap garments, the FBCCI chief lamented.
He mentioned that the demand for manmade fibre clothing is increasing in the world market and their price is also higher. Yet, most entrepreneurs are interested in investing in the cotton-based garment and spinning sector, he added.
“Exporters are gradually losing the advantage of cheap power, energy and labour. Moreover, the prices of raw materials are constantly rising,” Jashim said.
“Therefore, to continue the growth of the industry, exporters must now focus on exporting high-value garments.”
The FBCCI president also called upon the entrepreneurs to brand Bangladesh in a new way.
Speaking as the chief guest at the meeting, the president of the apex trade body said a safety council has been set up at the FBCCI to ensure the safety of non-export-oriented factories.
The Safety Council is working with BIDA to secure all the industries in the country, he mentioned.
President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA)
Faruque Hassan said a study is going on to explore the new items which the producers might be good at, and also to identify the new opportunities to expand their investments.
The BGMEA president added that exporters often reduce the prices of their products in order to compete with each other. He called for an end to the competition.
Executive president Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) Mohammad Hatem proposed to form different sub-committees on the banking and financial sector, power and energy, finance ministry and labour ministry to solve problems of the garment industry.
The members of the committee present at the meeting said that harassment of the Customs and Bond Commissionerate is now the biggest problem for them.
The businessmen also face hurdles in importing various raw materials due to HS code complications.
