A delegation from Alibaba, a global retail and e-commerce giant, paid a visit to Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday.
The Alibaba delegation comprised Daniel Zhou, Global Business Development Manager; Tim Song, Head of Global Strategic Partnerships; Lu Fan, Sales Planning and Operations; and Nasri Ma, Business Development Manager of Bangladesh.
BGMEA Vice President (Finance) Khandoker Rafiqul Islam, Vice President Md. Nasir Uddin, Director Abdullah Hil Rakib, Chairman of Tradeshi Limited Rajib Hossain, and Founder and Managing Director of Tradeshi Limited Shadab M Parvez, and President of Pragma Systems Quamrul Mina were also present at the meeting held at BGMEA Complex.
Discussions during the meeting revolved around the current global online market scenario, emerging trends, and the prospects for the Bangladeshi garment sector in the online marketplace.
Both sides discussed potential collaborations aimed at creating business opportunities for Bangladeshi garment exporters, with a particular focus on leveraging Alibaba’s online platform.
They also focused on collaborative efforts involving the sharing of technical knowledge and training initiatives from Alibaba to further enhance the capabilities of RMG exporters in Bangladesh.
Faruque Hassan, President of BGMEA, emphasized the importance of adapting to evolving market trends to maintain competitiveness and capitalize on emerging opportunities.
He expressed optimism about the immense potential of virtual marketplaces for Bangladesh’s ready-made garment sector.
He said that a strategic collaboration with Alibaba would play a pivotal role in paving the way for online business, particularly by establishing direct connections between Bangladeshi manufacturers and end customers (B2C).
This visit comes in the wake of BGMEA’s ongoing efforts to the digital transformation of Bangladesh’s apparel sector.
BGMEA had earlier undertaken a study project to identify challenges and opportunities in the RMG sector, officially unveiling the study report on January 25, 2024.
The primary objective of the virtual marketplace is to integrate the local textile industry into global value chains and capitalize on the shift towards online purchasing.
The report identifies market potential and sector readiness to digitize the apparel sector of Bangladesh.
The study also proposes sustainable business models along with policy gaps, and necessary requisite strategies essential for the successful implementation of the marketplace.