The garment makers’ bodies in Bangladesh, namely the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and the BGMEA or the Bangladesh Garment Manufacturers and Exporters Association, recently formed a joint body for benchmarking the minimum price and manufacturing cost of apparel products.

According to media reports, a 15-member committee formed in this direction — the body was, reportedly, formed during a meeting held at the BGMEA office — and headed by BKMEA Vice-President Fazlee Shamim Ehsan will conduct a thorough analysis of the cost of inputs, manufacturing cost and the export price of the finished goods in this regard even if the committee will, reportedly, endeavour to find empirical facts by consulting with wider stakeholders to understand associated costs and their dynamics including the lead time and its impact on the overall cost of making a garment.

The overall objective of the committee is to draw a comprehensive and complex picture of the aggregate manufacturing cost of major garment items and their minimum price justification even if the committee is expected to submit a detailed report to the boards of the respective associations within the next three months.