Commerce Minister Khandakar Abdul Muktadir on Saturday said Bangladesh’s readymade garment (RMG) and textile industry must prioritise sustainable production, innovation, research and product diversification to maintain its long-term global competitiveness.
“Sustainability is no longer just a slogan; it is now an essential condition for the industry’s survival and future growth,” Muktadir said while addressing the Grand Launching Event of Textile Innovation Exchange at a hotel.
The minister stressed the need for ensuring efficient use of electricity, gas and water through energy-saving measures, water recycling, circular production systems and improved management practices.
Muktadir said although the country’s apparel industry has achieved remarkable success over the past decades, exports still remain heavily dependent on a limited range of products. “It will be difficult to stay ahead in global competition unless we move quickly into high-value-added products such as sportswear, man-made fibre-based garments and technical textiles.”
He also said Bangladesh must become more proactive in diversifying products and exploring new export destinations to remain competitive in the European Union market and tackle potential challenges after the country’s graduation from the least developed country (LDC) status.
He also underscored the importance of research, design development, skills enhancement and the adoption of modern technologies to take the industry to new heights.
Highlighting the textile sector’s contribution to Bangladesh’s economic development, the minister said the industry has been a major driving force behind industrialisation and export growth by generating large-scale employment with relatively low investment. “With proper planning and innovation, the sector still has vast untapped potential.”
Referring to the government’s plan to utilise closed industrial units, Muktadir said no funds would be wasted on reviving inefficient factories by retaining outdated machinery.
Instead, he said, industry-specific solutions would be adopted, including developing industrial parks, attracting fresh investment through public-private partnerships (PPP) and leasing arrangements.
He said decisions in this regard would be taken in consultation with experienced private-sector entrepreneurs.
The minister also said promising sectors such as leather, light engineering and shipbuilding would be revitalised through modern technology, skills development and international cooperation.
Welcoming the Textile Innovation Exchange initiative, Muktadir said stronger collaboration between industry and academia, along with the exchange of experiences among entrepreneurs, would help make Bangladesh’s textile sector more modern, environmentally friendly and competitive.
The minister later inaugurated the Textile Innovation Exchange platform and visited different stalls at the event.