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BGMEA President Faruque Hassan has stressed the need for organizing more promotional campaign and road-shows to introduce 'Made in Bangladesh' across the globe, as well as to brand Bangladesh.
"Bangladesh has immense potential ahead in terms of exploring new and emerging markets. BGMEA being the apex trade body has organized several scoping and trade missions in potential markets and still working relentlessly in the area of apparel diplomacy,” he told a webinar titled “Opportunities and Potential of Bangladesh RMG industry in pursuit of Sustained Growth”.
The Export Promotion Bureau (EPB) organized the webinar on the occasion of “Sourcing Bangladesh-2021, Virtual Edition” on November 17.
A.H.M Ahsan, Vice-chairman of EPB chaired the webinar while Fazlul Haq, President, Bangladesh Employers Federation, M.S. Siddiqui, Co-convenor, Bangladesh Columnist Forum, and Md. Khorshed Alam, Chairman, Standing Committee on Development of local spinning and weaving mills of BTMA attended the discussion as panelists.
In his address as the keynote speaker, Faruque Hassan laid emphasis on shift to non-cotton products as their demand is on the rise in the global market.
“So we are now prioritizing our focus to non-cotton based textile and apparel to realign our product mix with global sourcing trend and this can be a potential area of investment in the upcoming days.”
He said, “Virtual marketplace could also be a big source of growth while we need to move from OEM (Original Equipment Manufacturer) to ODM (Original Design Manufacturer).”
For entering into that new arena of business, it is important to work on several issues such as reforming foreign exchange policies, export and import policies, tax policy, extend fiscal incentive to those who will develop their own collection and involve in innovation, he added.
“We need more investments in the backward linkage textile sector, particularly in the woven. The textile sector is a largely unexplored area and highly potential for investment, which is the man-made fiber based yarns and fabrics, functional fabrics like polyester, viscose, spandex, mélange, etc,” the BGMEA President said.