BGMEA president urges policy support for the RMG industry amidst global challenges
The observations came after a delegation from the BGMEA met State Minister for Commerce Ahsanul Islam Titu MP at the Secretariat to address critical issues confronting the readymade garment industry.
Policy support is necessary to stimulate industry growth and sustainability, particularly streamlining business procedures, including swift unloading of imported machinery and raw materials, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President SM Mannan said yesterday (8 May).
The observations came after a delegation from the BGMEA met State Minister for Commerce Ahsanul Islam Titu MP at the Secretariat to address critical issues confronting the readymade garment industry.
A press release quoting Mannan said the garment industry is currently passing through a difficult time amidst a worldwide economic slowdown that has resulted in reduced consumer spending and a decline in garment orders and exports.
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Rising production costs further exacerbate the challenges.
At the meeting, the detrimental impact of ongoing geopolitical crises on global trade was also underscored.
The more favourable the business environment in the country, the greater success the export sector will achieve, leading to overall economic benefits, he said.
Highlighting the significant role of a conducive business environment, Mannan urged the government to ensure uninterrupted gas and electricity supply, along with favourable policies, to uphold the industry's competitiveness.
With Bangladesh's anticipated LDC graduation in 2026, he emphasised the urgency of attracting increased investment in strategic sectors through proactive policy measures.
Additionally, Mannan advocated for the initiation of food rationing for garment workers under the Ministry of Commerce's purview, emphasising the sector's significance in driving exports and overall economic growth.
Comprising prominent figures such as BGMEA Senior Vice President Khandoker Rafiqul Islam, Vice Presidents (Finance) Md. Nasir Uddin, Vice President Abdullah Hil Rakib along with Directors Md. Imranur Rahman, Mohammad Sohel Sadat, Md Ashikur Rahman (Tuhin), Shams Mahmud, Md. Nurul Islam, Saifuddin Siddiquie Sagar, and Md Rezaul Alam (Miru) engaged in a comprehensive discussion on the industry's current challenges.
