Leaders of Bangladesh’s ready-made garments (RMG) industry have emphasised the need for stable power and energy supplies, supportive policies, and investment in workforce skill development to achieve the ambitious US $ 100 billion export goal. The appeal was made during a manifesto unveiling event organised by the Bangladesh Garment Manufacturers and Exporters Association’s (BGMEA) Sammilito Parishad, held in Dhaka.
The upcoming BGMEA election will see members vote to select 35 directors for the 2025-2027 term, who will lead the apex trade body for the next three years. Md Abul Kalam, owner of Chaiti Group and leader of the Sammilito Parishad panel, presented a 12-point manifesto highlighting critical challenges faced by the sector, including ongoing power shortages, geopolitical tensions, and global economic uncertainties. He stressed that the industry is navigating one of its most difficult phases and called for urgent government intervention to maintain competitiveness.
Industry stakeholders also highlighted the sector’s potential in the global market. Abdullah Hil Rakib, managing director of TEAM Group, pointed out that man-made fibres now constitute 76 per cent of global RMG trade. He urged the government to promote the use of man-made fibres and ensure a stable power and energy supply, asserting that Bangladesh could reach the US $ 100 billion export target if supportive policies are enacted. Rakib suggested shifting from a cotton-focused economy to a man-made fibre-based economy, noting that currently, only 16 per cent of Bangladesh’s RMG production uses man-made fibres, compared to 42 per cent in China and 46 per cent in Vietnam.
Rakib also criticised high interest rates charged by the Bankers Association of Bangladesh, describing them as detrimental to industry growth. He called for more affordable financing and better prices from global buyers. Additionally, he expressed concern over the impact of the US-led global tariff war, warning that increasing tariffs could threaten Bangladesh’s export prospects.
Former BGMEA president Faruk Hasan urged the government to postpone Bangladesh’s graduation from the Least Developed Country (LDC) status, advocating for an extended transition period. He emphasised that delaying graduation would provide additional benefits given the country’s current export and financial conditions.
Industry leaders underscored the importance of government support and policy reforms to sustain Bangladesh’s RMG sector and realise its export ambitions amid global challenges.
