The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday urged the apparel makers to focus on high-value garment export through product diversifications.
The apex trade organization also asked the exporters of RMG and textile sectors to invest in the manmade fiber in line with the global market demand.
FBCCI president Md Jashim Uddin said this at the first meeting of the Standing Committee on RMG, Knitwear and Sweaters at the FBCCI office in the capital yesterday.
Despite being the second-largest exporter of RMG, Bangladesh mainly exports relatively cheap garments, however, the demand for manmade fiber clothing is increasing in the world market, and the price is also higher, Jashim made the observation.
“The exporters are gradually losing the advantage of cheap power, energy, and labor. In order to continue the growth of the industry, exporters must focus on exporting high-value garments,” he pointed out. The FBCCI president also called upon the entrepreneurs to brand Bangladesh in an innovative manner.
Speaking as the chief guest at the meeting, the business leader said a safety council has been set up at the FBCCI to ensure the safety of non-export-oriented factories. The council is working with the BIDA to secure all the industries in the country.
In his address, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan said a study is going on how to explore new items and how to expand their investments through identifying new opportunities.
He added that exporters often engage in competition with each other and thus reduce the prices of their products.
Faruque called for an end to such competition. Bangladesh Knitwear Manufacturers and Exporters Association’s executive president Mohammad Hatem proposed forming different sub-committees on the banking and financial sector, power and energy, finance ministry, and labor ministry to solve problems of the garment industry.
The other committee members cited various harassment of the customs and bond commissionerate which they termed to be the biggest problem.
“We are facing hurdles in importing various raw materials due to HS code complications. The existing law needs to be amended for wastage recycling also,” they said.
