Covid-19 has changed the face of global business and has taken it to a point of uncertainty. The apex body – the BGMEA – has initiated a multi-pronged approach to pull the industry out from its precarious position. If on one hand, it is working closely with the Government and its overseas missions to initiate discussions with buyers from the respective countries, on the other, it is now engaging with global rights groups like the ILO, Human Rights Watch and Workers Rights Consortium to make sure suppliers get their due payments from the buyers. According to the National Board of Revenue’s provisional data compiled by the BGMEA, the RMG export in the 29 days of May this year declined by 62.09 per cent.
Meanwhile, one after another some major global retail behemoths have gone kaput, resulting in large-scale store closures, living garment manufacturers worried. But not to be let down, the country has begun production for PPE and face masks in full swing, both for exports and the frontline Coronavirus warriors in the country. Recently, BGMEA has also given a proposal to develop a virtual market platform to dispose of apparel items worth billions of dollars that have been cancelled by the global buyers owing to Covid-19. Experts also believe that the beginning of e-commerce channels will also help customers regain confidence.