Made in Bangladesh week to be held in Dhaka, apparel groups seeks India’s cooperation to enhance sector
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is set to hold a ‘Made in Bangladesh week’ in November and has sought India’s cooperation to enhance the apparel sector.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) — the largest organisation in the apparel sector in the country — is set to organise a ‘Made in Bangladesh Week’ from November 12 to 18.
In a press conference on Monday, officials of the BGMEA sought enhanced cooperation with India for global apparel marketing since their factories largely depend on raw materials from the neighbouring country.
WHAT IS THE EVENT?
The ‘Made in Bangladesh week’ will be inaugurated by Bangladesh Prime Minister Sheikh Hasina and will highlight the contributions of the Ready-Made Garment (RMG) sector to Bangladesh’s economy over the last 40 years.
BGMEA president Faruque Hassan said this is the first time the association is holding an event centered on the apparel sector. He added the event is being held even as the country faces a challenging time and the garment sector faces problems due to the ongoing gas crisis and load-shedding.
Faruque said the garment industry will make a successful recovery from the pandemic through the event.
Adding that efforts are on to increase the stake of Bangladesh in the global RMG market through diversification of both products and markets, Faruque said that they have exported more than $1 billion in Japan, while exports are also increasing in India, South Korea, Australia and Russia.
He added that the aim is to ensure Bangladesh is able to grab a 10 percent share of the global RMG market by 2025 from the current global market share of 6.8 per cent.
WHY IS INDIA’S COOPERATION NEEDED?
Speaking on seeking India’s cooperation to enhance the industry, Faruque said, “Bangladesh and India do not compete with each other for RMG exports to the global market, rather we complement each other and want to enhance the cooperation for a win-win situation.”
He said Bangladesh imports raw materials like cotton and petrochemicals from India for apparel production.
According to him, exports from Bangladesh to other countries actually benefitted India as well, since most of the materials for producing apparel were sourced from there.
FASHION CONVENTION AS PART OF THE WEEK
The 37th World Fashion Convention of the International Apparel Federation (IAF) will be held in Dhaka as part of the ‘Made in Bangladesh’ week. This fashion convention will be held marking the 50th anniversary of the IAF.
Source- INDIA TODAY
