Sheikh Bashir Uddin, Adviser to the Ministries of Textiles, Jute, and Commerce, has urged stakeholders to brace for challenges following Bangladesh's graduation from Least Developed Country (LDC) status.

Speaking at the National Textile Day 2024 seminar on Wednesday, he emphasized the need for unity and strategic planning to address potential disruptions in the sector.

"We have many challenges ahead as an LDC graduate nation. The decision to reduce incentives is the right step. After LDC graduation, incentives will no longer be available, and we will face export market tariffs," Bashir Uddin remarked at the event held at the Jute Diversification Promotion Center (JDPC) in Farmgate, Dhaka.

Bashir Uddin called for increased adoption of solar energy and advanced technologies to reduce costs and enhance efficiency in the textile industry. "Solar power is a viable solution to cut expenses in this sector. Additionally, new entrants into the industry must be professionally skilled and academically prepared to drive its growth," he said.

The seminar, titled “Overview of the Textile Sector in Bangladesh: Problems, Prospects, and Smart Way Out,” was organized by the Ministry of Textiles and Jute. It featured notable experts, policymakers, and industry leaders addressing the sector's current state and future.

Md Abdur Rouf, Secretary of the Ministry of Textiles and Jute, presided over the seminar, while Md Shahidul Islam, Director General of the Textiles Department, delivered the opening address. Professor Dr. Ayub Khan from BGMEA University of Fashion and Technology (BUFT) highlighted the need for a "talent bank" and skill development to ensure sustainable industry growth.

BKMEA President Md Hatem stressed the importance of long-term planning and timely policies to advance the sector. "The development of the textile industry requires coordinated efforts and visionary strategies," he said.

The event brought together senior officials, including Additional Secretaries of the Ministry of Textiles and Jute Subrata Sikder, Arifur Rahman Khan, and Taslima Kaniz Nahida, along with BTMC Chairman Brig Gen Md Ziaul Haque. Stakeholders from various sectors also participated, underscoring the importance of collaboration in addressing industry challenges.