DHAKA, May 02, 2019 (BSS) – Speakers at a seminar here today underscored the need for reducing cost of doing business in readymade garment (RMG) sector for ensuring sustainability describing it as a major challenge of the industry.
They made the observation at the ‘DCCI Conclave on Sustainability of RMG sector in Bangladesh’ at the Dhaka Chamber of Commerce and Industry (DCCI) conference room, said a press release.
Commerce Minister Tipu Munshi was present as the chief guest while Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Dr Rubana Huq attended the meeting as the special guest.
Tipu Munshi said that RMG industry needs some incentives for a certain period of time in order to support the industry.”The entrepreneurs of this sector are not getting due price from the buyers,” he added.
He called for increasing negotiation skill to get the best price from the buyers and said “Our factories are now more compliant and the quality of our products is also high.”
Rubana Huq said “for the sustainability we need support from the government. Moreover we are faced with a crisis of positive image and we should build the positive image in the international market with the support of all specially the media.”
Emphasizing on adopting strong strategy and right statistics, she said the government should focus on how to reduce cost of doing business for RMG’s sustainability.
Among others, DCCI President Osama Taseer and BGMEA Senior Vice President Faisal Samad were present.
Osama Taseer said that RMG sector shares US$460 million of total Foreign Direct Investment (FDI) to Bangladesh. “We are the largest exporter after China constituting 6.5 percent of the world market of $446 billion,” he said.