New digital platform ‘Merchant Bay’ launched

Staff Correspondent

27 September, 2020 12:00 AM printer

A new digital platform ‘Merchant Bay’ was launched to bring a new dimension to the readymade garment sector.

Posts and Telecommunications Minister Mustafa Jabbar inaugurated the new online-based B2B platform virtually on Friday.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Dr. Rubana Huq, former FBCCI President Shafiul Islam Mohiuddin, Sayem Group’s President Md Monir Hossain, and Managing Director of Merchant Bay Abrar Hossain Sayem were also present on the occasion.

Merchant Bay is a unique platform which works with trade digitization, sourcing digitization, production monitoring.

Merchant Bay is committed to ensuring the digitization of the supply chain by facilitating sourcing for both the producer and the buyer.

It will primarily work to build, verify, and create digital profiles of Bangladeshi RMG manufacturers to reach buyers worldwide.

Merchant Bay will also be able to quickly connect suppliers with buyers, deliver updates with transparency, order processing, and production monitoring.

By using the platform, it will be possible to make analytical decisions that will make sourcing more affordable and increase production efficiency.

The chief guest Posts and Telecommunications Minister Mustafa Jabbar said that digital services are very important according to the current situation, and it is also the demands of the age.  “I am happy that Merchant Bay has taken such an initiative. I hope, through this platform, our domestic traders will be able to play a more important role in the country's export sector by communicating with foreign buyers very easily”, he added. BGMEA President Dr. Rubana Huq also said this is a very appropriate initiative. Using it, traders will be able to communicate with buyers outside the country very easily. Since Corona is changing buyer behavior, it is believed this B2B platform will be very effective for everyone related to the RMG sector.

The readymade garment sector has been playing the most significant role in Bangladesh's export earnings. In this time of the digital revolution, the need for technological innovation in this sector is immense.

Merchant Bay will play an effective role in developing the skills and capabilities of this sector through digital trade solutions. Merchant Bay already has a database of more than a thousand suppliers, which includes a total of 500+ types of products in 22 categories.