BGMEA Reaches Out to Non-Resident Ambassadors in New Delhi
13 March 2024, Mumbai
Despite the pandemic's blow, swift actions like worker vaccinations and robust health protocols led to a remarkable industry recovery. The RMG sector, a national cornerstone, stands stronger today.
The country prioritized supporting SMEs with better services and affordable financing. The industry also championed policy changes for easier business, including extended tax stability and trade license validity.
Furthermore, the nation simplified banking activities and secured access to green financing schemes. This focus on sustainability is evident in the significant rise of green factories, solidifying Bangladesh's global leadership.
Market access expansion was crucial. "Apparel diplomacy" secured favorable trade terms and highlighted our commitment to sustainability and worker well-being. Notably, the EU eliminated a barrier to Bangladesh applying for GSP Plus.
The industry actively explored new markets and diversified products to transition the industry to value-added. The establishment of innovation centers and upskilling programs exemplifies this commitment.
Challenges remain, like recent supply chain disruptions. Yet, sector navigated them effectively, showcasing the industry's resilience. Research initiatives are ongoing to pave the way for the next 15 years. The RMG sector, through proactive measures and continued collaboration, is well-positioned for a successful future.
CREDITS: BGMEA press release
