The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has sought the World Bank support for the ready-made garment (RMG) industry in the areas of sustainability, skill development, technological upgradation and innovation.
BGMEA President Faruque Hassan urged the global lender for support when a high-level delegation of the World Bank led by its Managing Director of Operations Axel van Trotsenburg called on him at the BGMEA Complex in Dhaka’s Uttara on Monday, according to a press release.
In the meeting, the present state of affairs in Bangladesh’s RMG industry including its challenges, potentials and industry vision was discussed.
Both sides also had discussions on the possible impacts of Bangladesh’s LDC graduation particularly on the apparel sector and preparations to retain the industry’s competitiveness in the post-LDC era.
Faruque Hassan apprised the World Bank delegation about the future priories of Bangladesh’s RMG industry, including an increased focus on moving up the value chain through innovation, product diversification, technology upgradation, and upskilling and reskilling of the workforce to remain sustainable and cost-competitive.
He also highlighted the tangible transformation of the RMG industry in the areas of workplace safety, environmental sustainability and workers’ well-being.
He spotlighted the importance of financing SMEs (small and medium enterprises) to support their development and as they often cannot avail of regular financing schemes due to stringent due diligence, read the release.
Faruque called on the World Bank for supporting the SMEs with low-cost finance so that they could upgrade their capability and adopt sustainability practices, could thrive in the competitive market.
The World Bank delegation included Martin Raiser, vice-president, South Asia Region, Abdoulaye Seck, country director for Bangladesh and Bhutan; Dandan Chen, operations manager for Bangladesh and Bhutan; Yutaka Yoshino, lead economist/program leader, Martin Holtmann, country manager, IFC Bangladesh; Elena Karaban, manager, external communication; Barbara Weber, senior operation officer, Country Director’s Office; Mehrin Mahbub, senior external affairs officer; Kimberly Versak, senior external affairs officer; Ewa Sobczynska, senior operations officer, Vice-President’s Office; Hosna Ferdous Sumi, private sector specialist, TTL Export Competitive for Jobs Project; and Suhail Kassim, senior economist.
BGMEA directors Abdullah Hil Rakib and Neela Hosna Ara, Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud and Chair of BGMEA Standing Committee on UD-Woven & Knit Md Nurul Islam were also present in the meeting.
