The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) sought the foreign ministry’s cooperation to diversify products and come up with new strategies to penetrate new markets for ready-made garment (RMG) exports.

The trade body sought the support while its delegation, led by President SM Mannan Kochi, paid a courtesy call on Foreign Minister Dr Hasan Mahmud at the ministry in Dhaka on Tuesday.
The BGMEA delegation included Senior Vice President Khandoker Rafiqul Islam, Vice Presidents Arshad Jamal Dipu, Abdullah Hil Rakib, Miran Ali, Directors Md Imranur Rahman, Mohammad Sohel Sadat, Shams Mahmud, Rajiv Chowdhury, Md Mohiuddin Rubel, Barrister Shehrin Salam Oishee, Md Nurul Islam, and Saifuddin Siddiquie Sagar.

During the meeting, the BGMEA president emphasised the significance of market and product diversification to reach the goal of achieving US$100 billion from garment exports by 2030.
He noted that garment exports to new markets have increased from $847 million to $8,370 million with government policy support over the past 15 years.
BGMEA seeks the cooperation of Bangladesh’s relevant embassies in organising roadshows, networking with buyers, and participating in key fairs to increase exports to new markets, particularly to Brazil, Argentina, Russia, South Africa, Turkey, and ASEAN countries.

He also highlighted the importance of bilateral and regional free trade agreements with these potential markets.
During the meeting, the BGMEA president sought the foreign ministry’s support in addressing the potential impact of LDC graduation on the country’s export trade and continuing duty-free facilities in major export markets.
The foreign minister emphasised the need to diversify into new products and explore new markets, especially in Africa, South America, and ASEAN countries.
He assured the delegation of the ministry’s full cooperation in this regard, mentioning ongoing discussions with various countries to remove tariff barriers in these potential markets.