The ready-made garments (RMG) sector, the only multi-billion-dollar export industry in the country, is presently passing through a critical juncture as numerous hurdles besetting the sector are yet to be overcome.
One of the big problems the garment owners have to deal with is the constant price fall of garment products.
This was told by ABM Shamsuddin, newly elected panel leader of the Forum, a leading coalition of the country's garments manufacturers and exporters for the upcoming BGMEA election while introducing himself at a programme at a city hotel on Saturday night.
He said, “In the last four years the price declined on average by 4.75 percent. We have seen a fall in prices in the EU, USA, and even in non-traditional markets. Despite owning green factories, we are not getting fair prices. We need sustainable buying practices to ensure sustainability. We must have to make buyers understand this.”
“We need to keep in mind that the future is ours. Because Ethiopia is facing political uncertainty, Cambodia has lost GSP, Myanmar is also in turmoil and Vietnam will not be able to set up a factory overnight. Bangladesh can, therefore, be the ultimate destination for garments manufacturing. We have to be ready to reap the benefit,” he added.
Forum President Anwar-ul-Alam Chowdhury Pervez, Current BGMEA President Dr. Rubana Huq, former President Anisur Rahman Sinha, former VP Benazir Ahmed, Director Khondaker Belayet Hossain along with leaders and members of the Forum were present at the programme.
During the program a visual presentation describing the success of the current BGMEA board under the leadership of Dr. Rubana Huq was shown. It gave the introduction of order cancellation monitoring portal as well as speaking against order cancellation worth USD 3.18 billion, the formation of RMG Sustainability Council (RSC) to replace Accord, creating awareness on barriers and challenges of RMG sector through social and international media, publication of BGMEA Sustainability Report and ensuring disbursement of government incentive and assistance to sustain Covid-19 era etc.
Garments manufacturers and exporters reaffirmed their unity and cooperation to ensure the continuity of the success.