Saturday, 28 January, 2023

‘Made in Bangladesh Week’ on Nov 12-18: BGMEA

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will hold a weeklong apparels event, styled 'Made in Bangladesh' next month to celebrate the progress being made in the country’s burgeoning garment industry.

Faruque Hassan, President of the BGMEA, in a views exchange meeting with the representatives of the Overseas Correspondents Association Bangladesh (Ocab) said on Sunday that the other aim of the week is to highlight the growth of the sector in a manner that would make a sustainable contribution to the national economy. Currently the sector’s share of contribution to the national economy is over 11 percent.

He said the BGMEA has set a target of earning $100 billion by 2030 from exports of garment products as the sector is poised to grow more despite challenges at home and abroad.

He said that energy crisis and the Ukraine-Russia war have created obstacles for the sector to grow further, but they are optimistic to overcome them.

  1. can’t sit idle. We have to grow more through innovation, diversification and value addition,” he said adding that the ‘Made in Bangladesh Week’ will be a flagship event to interact with global leaders, buyers, experts, designers and Bangladeshi manufacturers.

‘Bangladesh has the highest number of green factories in the world, we are No. 1 in Denim, we have many other achievements in the sector. So, we need to tell the world about our strength and achievements. Through this week we want to do branding of the country’s garment industry,” he said.

“In the past decade the industry has undergone a massive transformation to ensure workplace safety, workers’ wellbeing and environmental sustainability. We need to show all these to the world,” he said.

Detailing the plan for the weeklong event, he said that the event will accommodate a number of programmes including the 3rd edition of the Dhaka Apparels Summit, 37th World Fashion Convention by the International Apparel Federation (IAF), tour to green factories, cultural and fashion shows and expos and awards.

The BGMEA president said that the government and the BGMEA were negotiating with the European Union (EU) to ensure that Bangladesh’s garment industry does not face any major challenges during the transition period after 2026, when Bangladesh would be graduated from the LDC status to a developing country. The graduation means Bangladesh would lose quota-free and duty-free access for its many products to foreign markets as per the rules of the World Trade Organisation.

“We have been in talks with the EU, we are seeking a grace period of six years to continue to have the GSP facility from the trade block. They want to give us three years to adjust to the new reality after the graduation from the LDC status, but we want six yers,” he said. “We are also trying to get GSP Plus facility from the EU.”

“Australia has already agreed to give us time. We are looking for more alternative options in this regard,” he said.