Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan Thursday said the readymade garments (RMG) industry is not only making a contribution to the socio-economic development of Bangladesh but also bringing glory to the nation.

"The apparel industry is carrying the 'Made in Bangladesh' trademark across the world and we are all proud of it. The industry belongs to all people of this country. The development of the sector means the development of Bangladesh and betterment of its people," he said.

The BGMEA chief said the next phase of Bangladesh's economic growth will largely depend on the industrial sector where the apparel industry will play a pivotal role. "So it is everyone's responsibility to protect the industry."

Read:BGMEA for branding 'Made in Bangladesh'

Faruque was speaking at the event "Sustainability of the Apparel Industry of Bangladesh: Policies, Scopes and Constraints" organised by Solidaridad Network Asia and ESTex Foundation at a city hotel.

The programme aimed to provide a platform to policymakers and sectoral stakeholders to highlight the policy gaps and needs and constraints and to explore new opportunities and initiate pathways for implementing solutions to the environmental, social, and economic issues to achieve sustainability of the apparel industry of Bangladesh.

Faruque called on brands and retailers to be rational in terms of pricing to make the supply chain resilient and sustainable.

Also read: BGMEA shares RMG success stories at IAF meeting

There is a sharp disconnect between sustainability and pricing mechanisms, and the factories are investing more in safety and sustainability, he said.

"Also, prices of yarn, chemicals and other raw materials in the global supply chain have pushed up production costs in garment manufacturing. But prices are not being offered in line with that. The gap needs to be closed," said the BGMEA chief.

Mohammad Hasan Arif, general manager of Bangladesh Economic Zones Authority, Selim Reza Hasan, country manager of Solidaridad Network Asia, Syed Naved Husain, group director of Beximco, and Dr Mohidus Samad Khan also attended the programme.