Readymade garment (RMG) sector is one of the most significant sources to boost the economy of the country. Every business including this sector has been struggling due to coronavirus. Bangladesh Garment Buying House Association (BGBA) President K. I. Hossain describes how this pandemic can bring new hope to the sector to accelerate the wheel of the economy.
In an exclusive interview with Bangladesh Post he shared his experience and suggestion to overcome this jeopardy and sustain in the future.
The interview is produced here for the valued readers of Bangladesh Post...
Bangladesh Post: First of all, you please brief us the strategies you can recommend to tackle the losses, the Garments Buying sector incurs due to Covid-19 situation.
K. I. Hossain: From my point of view, Bangladesh as a second largest exporter for a few categories has to include a new product line which was not affected by Covid-19. That is sportswear and athletic wear, because the people are now staying at home and they cannot go to the gym for fitness. So they use athletic products at home and the demand of this item has increased. Bangladesh should think how to deal with these kinds of products which needs Autumn Ocean.
Bangladesh Post: Now please tell us about the future impact of the situation that your industry is going to face certainly and tell us whether any ray of hope you can cherish in recovering the damages?
K. I. Hossain: It is our experience that any disaster gives you a new opportunity. So if we can concentrate product like health oriented which was listen learning of Covid-19. We can move for what to health gear product which is big demand whole over the world, including our local market. It is a billion dollar market, Bangladesh can enter this market and overcome to the damage.
Bangladesh Post: Now as a leader of the sector, what demands the BGBA is planning to place before the policy makers to cope up with the situation?
K. I. Hossain: BGBA urges policymakers to reduce the cost of utility bills and put more in imprecise to worker for upcoming business for take over with a minimum education as our competitors like Vietnam, India is more affected and has a capacity to deal with any situation.
Bangladesh Post: As we know that the role of BGBA include assisting enterprises to explore domestic, overseas markets, enhance the international economic cooperation, now tell us how far the body is successful in doing all these things?
K. I. Hossain: BGBA is a supply chain engine in the market place in the readymade garments. As it is a marketing organization who is marketing all the manufacturers of Bangladesh with a local and foreign buying house 85% of the export done by the trading companies. In the new market strategy in the value change marketing organization is the engine of the whole change the work.
Bangladesh Post: Now please describe us the contribution of BGBA in terms of it’s adherence to the ideology of scientific development and promotion of the sustainable development of the RMG sector.
K. I. Hossain: All the buying house’s run by the skill and talented people who are highly educated in various good universities. So this people are very much aware about the market in future in the value change as because they're communicating with the customer directly. To make a sustainable industry fast able we have to be ethical and very much transparent to the customer as because Covid-19 give us a new eara that we have to be very very eco-friendly all over the world. So our next step is sustainable development we need to be produce eco-friendly product.
Bangladesh Post: How would you evaluate your success in driving the transformation of Bangladesh from a large garment country to a strong one?
K. I. Hossain: Bangladesh is now still not going to transformations as such as other countries. Covid-19 gives us opportunity. We have to transform our business with the semi auto-motion as because Bangladesh is a very thickly populated country and very big workforce is coming in the market every year. We have to make our human resource in transformation with the ground situation then we can achieve the goal.
Bangladesh Post: How would you evaluate the government’s move to announce stimulus package for the RMG industry following the Covid-19 pandemic, also brief us who are really deserving to attain the opportunity and how far the BGBA is involved in the process?
K. I. Hossain: Government stimulus package for the workers of the garments industries. Every business is suffering due to this pandemic. So the government should give priority to particular sectors for the support, so that economy can be accelerated very first. Everybody knows the service sector is contributing in the GDP 54% but still government not specify category of the service sector. I think they should immediately take necessary steps to accumulated service sector including BGBA.