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BGMEA seeks policy supports to face the global trade challenges

BTJ Desk Report
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BGMEA seeks policy supports to face the global trade challenges

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently met with State Minister for Commerce Ahsanul Islam Titu MP to address pressing issues within the readymade garment industry. BGMEA President SM Mannan highlighted the need for policy support to stimulate industry growth, focusing on streamlining business procedures and addressing rising production costs. The industry is facing challenges due to a global economic slowdown, resulting in reduced consumer spending and garment orders. The meeting emphasized the detrimental impact of ongoing geopolitical crises on global trade. Mannan stressed the importance of a conducive business environment, urging the government to ensure uninterrupted gas and electricity supply and implement favorable policies to maintain competitiveness, especially with Bangladesh’s anticipated LDC graduation in 2026.

Additionally, Mannan advocated for food rationing for garment workers under the Ministry of Commerce’s purview, recognizing the sector’s role in driving exports and economic growth. The meeting included comprehensive discussions involving prominent figures from BGMEA on addressing the industry’s current challenges.

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