Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), underscored the need for more investment in the backward linkage industry, particularly in the non-cotton textile sector to seize opportunities within the global apparel market.

Speaking at the opening ceremony of the 21st Dhaka International Yarn & Fabric Show 2024 and the 6th International Denim Show 2024 on March 6, Faruque Hassan pointed to the huge potential of Bangladesh’s apparel industry in non-cotton segment. 

The exhibition was organized by CEMS-Global at the International Convention City Bashundhara (ICCB), Dhaka.

In his address, Faruque Hassan said, “Whereas 75% of the global textile and clothing consumption is of non-cotton, only 25% of our exports is of non-cotton. This means that we are yet to take advantage of the huge non-cotton market, while we have tremendous opportunities there.”

He called for making investments in the backward linkage industries, emphasizing their role in substituting imports, contributing to foreign currency reserves, and enhancing the apparel industry’s competitive advantage by saving lead time and costs.

Faruque Hassan said building capabilities in the non-cotton segment would contribute to elevating Bangladesh’s position in the global textile and apparel landscape, as well as propelling economic growth of the country.

Lokman Hossain Miah, Executive Chairman of Bangladesh Investment Development Authority (BIDA); Md. Amin Helaly, Senior Vice President of FBCCI; Md. Akhter Hossain Apurbo, Vice President of BKMEA; Md. Nuruzzaman, Director General (Additional Secretary) at the Department of Textiles; Mahbubur Rahman, Director General-1 at the Export Promotion Bureau (EPB); and Ms. Meherun N. Islam, President and Group Managing Director, CEMS-Global USA and Asia Pacific, also spoke at the event.

The BGMEA President highlighted the pivotal role of exhibitions in disseminating the latest information to entrepreneurs.

He commended the organizers for their efforts, stating, “The exhibition plays a vital role by introducing the latest information to the entrepreneurs, which ultimately enhances the quality and competitiveness of products.”