At a meeting with Ahansul Islam Titu, State Minister for Commerce, SM Mannan (Kochi), President, BGMEA urged policy makers to uphold the competitiveness of Bangladesh's Readymade Garment (RMG) industry by providing essential support.
Convened at the Bangladesh Secretariat, the meeting highlighted the challenges posed by ongoing geopolitical crises and the global economic slowdown. Emphasising on the need for policy support, Manan noted, reduced consumer spending and declining garment orders and exports have compounded the industry's difficulties.
Additionally, rising production costs have further strained the sector, Mannan averred. He urged policy makers to simplify the business procedures and expedite the unloading of imported machinery, equipment, and raw materials.
Emphasising the link between a conducive business environment and export success, Mannan urged for uninterrupted gas and electricity supply, along with favorable policies. He highlighted the impending loss of trade facilities post-2026 following Bangladesh's LDC graduation, underscoring the need for timely policy interventions to attract increased investment.
Mannan also advocated for food rationing for garment workers under the Ministry of Commerce's purview, citing its role in safeguarding the sector and bolstering exports for overall economic growth.
