BGMEA President Faruque Hassan has stressed the imperative for innovation, technological upgradation, design and skill development to ensure the continued competitiveness of Bangladesh’s apparel industry in the global market.

He also emphasized the pivotal role of diversification in product, fiber, and market as key priorities for the industry.

He came up with the observations while addressing a seminar organized by the Bangladesh Institute of International and Strategic Studies (BIISS) in Dhaka on Sunday (December 31).

Dr. Mashiur Rahman, former Economic Affairs Adviser to the Honorable Prime Minister, attended the seminar as chief guest.

Faruque Hassan highlighted the strategic vision of BGMEA to transform the industry from labor-intensive manufacturing to a paradigm of innovation, high-value production, and modern manufacturing processes.

 “We have taken a vision to remodel our industry - from labor-intensive manufacturing to innovation, high-value and modern manufacturing processes to make it competitive in the longer run,” he added.

Looking ahead to 2024 and the next decade, the BGMEA chief underscored the need for planned and concerted efforts to address challenges associated with Least Developed Country (LDC) graduation and changing market demands, prioritizing non-cotton and high-value-added markets.

He expressed optimism that Bangladesh’s RMG industry would be able to navigate the upcoming challenges and continue its growth momentum with the support of all stakeholders including the government, buyers and development partners.

Among others, Foreign Secretary Masud Bin Momen, Md Ehsan-E-Elahi, secretary, Ministry of Labour and Employment, Tapan Kanti Ghosh, senior secretary, Ministry of Commerce, Kamran T. Rahman, senior vice president, Metropolitan Chamber of Commerce and Industry (MCCI), and Md. Akhter Hossain Apurbo, Vice President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), were also present.