BGMEA calls for govt support to safeguard RMG sector in testing times

Business Report :
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for government support and cooperation to ensure the resilience and continued growth of the readymade garment (RMG) industry in the face of a challenging global economic environment.

A delegation from BGMEA, led by President Faruque Hassan, held a meeting with Sheikh Mohammad Salim Ullah, Secretary of the Financial Institutions Division within the Ministry of Finance at the secretariat on Wednesday (October 4) and made the call.

Other members of the BGMEA delegation were Senior Vice President SM Mannan (Kochi), Vice President Rakibul Alam Chowdhury, and Chair of BGMEA Standing Committee on Challenged Industry Md Anisur Rahman.

The discussion at the meeting primarily revolved around pressing issues related to the garment industry, the current state of global trade, the implications for Bangladesh’s RMG export performance, and potential strategies to address these challenges effectively.

BGMEA President Faruque Hassan emphasised the industry’s current difficulties, citing a noticeable decline in garment exports.

This decline has been attributed to reduced consumer spending on clothing, caused by high inflation in major export markets such as Europe and the USA.