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Post-LDC Trade: manufacturers focus on apparel diplomacy

BTJ Desk Report
Post-LDC Trade: manufacturers focus on apparel diplomacy

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has continued to have discussions with buyers as part of apparel diplomacy to avail duty-free market access after graduation from the status of the least developed country (LDC).

“We have strengthened our apparel diplomacy. Australia has confirmed. The UK also made affirmation on facilitating duty-free access of RMG products after LDC graduation in 2026,” Faruque Hassan, president of BGMEA on Saturday.

He termed India as a major sourcing country for raw materials of the apparel industry including yarn, fabric, dying items, and machinery.

“We also export readymade garments to India. There is a win-win situation for both countries. We have land ports, rail, and riverine communications with India. There are huge opportunities to boost bilateral trade through using connectivity,” he said.

BGMEA chief informed the meeting that the trade body is conducting research on the pandemic impact on the apparel industry, and the possibilities of a virtual marketplace to strengthen the export destination with diversified garment products.

Commerce Minister Tipu Munshi inaugurated the two-day long business-to-business conference at Radisson Blu Dhaka.

Addressing the programme, Tipu Munshi urged apparel entrepreneurs to source raw materials from India as the closest neighbor has connectivity on road, rail, and shipping.

“Now, the global supply chain of products has been disrupted due to the Russian invasion of Ukraine. Bangladeshi businesses can source products from India with a minimum cost,” he said.

International sourcing platform Sowtex organized the “Textile Sourcing Meet” in association with BGMEA, Bangladesh Garment Executives Association (BGEA), and Indian Importers Chambers of Commerce and Industry (IICCI).

Some 35 textile companies from India showcase their product and services related to fabric, trims, and yarn.

BGMEA Vice President Shahidullah Azim, Marks and Spencer Country Manager Shwapna Bhowmick, BGMEA Director Neela Hosne Ara, BGEA President Masudur Rahman, and IICCI President Atul Kumar Saxena were also present at the inauguration.


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