RMG exporters stress sustainable pricing for sustainable industry

Bangladeshi readymade garment exporters have urged international buyers to ensure sustainable prices for their products, which is necessary for investments to develop a sustainable industry.

"Buyers always talk about green products and sustainability. We have to keep in mind that large investments are needed to achieve these goals. So, product prices should be increased," said Abdus Salam Murshedy, former president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), at a session at the Dhaka Apparel Summit 2022 on Tuesday.

"The price of each of the raw materials required to make our products has increased, while the prices of our products are decreasing. This poses a challenge to our survival. I urge the partners to increase the prices of our products so the industry can become sustainable," said Abdus Salam Murshedy, a member of parliament.

"China's garment sector export is worth over $240 billion, while our apparel export fetches over $42 billion. So there is scope for further development in this sector in our country. To do this, we have to emphasise innovation," said  Kutubuddin Ahmed, former president of BGMEA.

Four sessions, namely, "RMG Sector Roadmap: Towards a prosperous future", "Logistics infrastructure to take Bangladesh to next level of economic growth", "From global to local value chains – strategic alliance and collaborative capacity building for a diversified industry", "Co-creating Sustainability – shared risks and rewards" took place at the summit.

State Minister for Foreign Affairs Shahriar Alam, who was the chief guest at the opening plenary session, said, "Australia has given us a written commitment to provide duty free access to their market till 2029. Besides, the European Union is a major apparel market. I will request the retailers there to give duty free access for Bangladeshi products.

"Our labour law will be updated soon. We will also revise workers' salaries next year. All the buyer states should take note of it."

Shahriar Alam said, "A group has hired lobbyists to spread negative propaganda against Bangladesh to bar us from gaining GSP benefits. I ask traders to be careful about that."

Zuena Aziz, principal coordinator (SDG affairs) at the Prime Minister's Office, said at the programme, "We are putting stress on making green products. We are building eco-friendly factories. We are careful not to damage the environment. The government is supporting businessmen in this matter."

She noted that the government is building 100 economic zones where all facilities are being provided for investment.

BGMEA President Faruque Hassan ‍said, "In FY22, garments export crossed the $40 billion milestone, which was about 82% of the country's total export. The robust growth in the RMG industry, which helped Bangladesh achieve prosperity, did not come by chance.

"The apparel industry is a time-tested one, which has made commendable progress in sustainability – especially in workers' wellbeing and industrial relations – in the last decade. "

 Faisal Samad, director of BGMEA, said, "A ministry is needed to monitor the logistics sector. Our logistics sector costs more than other countries."