rmg
MasterCard prepaid card launched for RMG workers
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Mastercard, have launched co-branded credit cards for the BGMEA members, and prepaid cards for more than 4.5 million readymade garments (RMG) workers.
Mutual Trust Bank will issue the MasterCard World credit cards and the prepaid cards by Southeast Bank Limited (SEBL).
The prepaid cards will help disbursement of garment workers' wages, the BGMEA said Saturday.
The RMG workers of the BGMEA enlisted factories will get the SEBL MasterCard prepaid card, which is designed to provide more convenient, safer, and smarter options for payments rather than cash, it added.
Mastercard World credit cards are designed for the BGMEA members and senior executives of its member factories, allowing cardholders to conduct local and cross-border transactions with ease and convenience.
Read more: Mastercard, Visa suspend operations in Russia after invasion
Cardholders can carry out dual-interface global transactions, which also support ATM, POS, QR, and e-commerce payments along with usage of travel lounge services locally and internationally.
BGMEA President Faruque Hassan, Mastercard Country Manager Syed Mohammad Kamal, Mutual Trust Managing Director and CEO Syed Mahbubur Rahman, and SEBL Managing Director M Kamal Hossain signed the agreement.
BGMEA directors Barrister Shehrin Salam Oishee, Tanvir Ahmed, Mijanur Rahman, Neela Hosna Ara; Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam, and Chairman of BGMEA Standing Committee on UD-Woven and Knit Md Nurul Islam were also present.
Read more: Nagad launches service for paying Mastercard Credit Card Bill
Harmonious relations between workers, employers key to Bangladesh's RMG success: BGMEA
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has said harmonious industrial relations between workers and employers is one of the key factors behind the success of the country's apparel industry.
"The relations built over many years of working together have taken a solid foundation which is very important to drive the industry forward. Also, the Industrial Police has been playing a pivotal role in maintaining a peaceful and cooperative relationship between workers and employers in the apparel sector," BGMEA President Faruque Hassan said Thursday.
He was speaking at the founding anniversary ceremony of the Industrial Police in Dhaka.
Read: BGMEA president briefs Moody's team on sector's outlook
Home Minister Asaduzzaman Khan attended the programme as chief guest while Prime Minister's Adviser on Private Industry and Investment Salman Fazlur Rahman, former president of the Federation of Bangladesh Chambers of Commerce and Industries and BGMEA Md Shafiul Islam Mohiuddin, Inspector General of Police Chowdhury Abdullah Al-Mamun, and Public Security Division Secretary Md Aminul Islam Khan were also present at the programme.
Additional Inspector General of Industrial Police Md Mahabubor Rahman presided over the ceremony. Bangladesh Knitwear Manufacturers and Exporters Association Executive President Mohammad Hatem was also present.
BGMEA president briefs Moody's team on sector's outlook
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has briefed Moody’s Investor Service about the future priorities of the RMG industry to enhance its capabilities and competitiveness in the global market in the coming days.
The priorities include increased emphasis on product diversification, innovation, technology upgradation and skill development.
Read more: Germany's TU Dresden to give technical, knowledge support to BGMEA's CIEOSH
A delegation of Moody’s Investor Service met with BGMEA President Faruque Hassan at BGMEA Complex on Tuesday to understand the status quo of the RMG industry in Bangladesh, especially its prospects, current challenges, and way forward.
The Moody’s team included Alka Anbarasu, Associate Managing Director, and Camille Chautard, Analyst.
A representative of Bangladesh Bank was also present at the meeting, according to BGMEA.
They had discussions about different trade-related issues Bangladesh’s RMG industry, including the challenges posed by the present global energy crisis and inflation, impacts on exports and possible ways to deal with the situation.
Read more: BGMEA urges US' Jordache to source more from Bangladesh
BGMEA President Faruque Hassan apprised the Moody’s team of remarkable progress made by Bangladesh’s apparel industry, becoming one of the safest and greenest industries in the world.
Mentioning the proven resilience of the industry, he expressed high optimism would be able to weather the tough time.
The RMG sector is keeping close eyes on the global market situation and would move ahead strategically based on the situation, he added.
Moody’s Investor Service is a leading provider of credit ratings, research, and risk analysis.
Faruque Hassan invited the Moody’s delegation to the Made in Bangladesh Week which will be organised by BGMEA on 12-18 November 2022 to promote Bangladesh and the RMG industry.
Olio Apparels pays workers' dues, says Envoy Group
Workers of RMG sector giant Envoy Group's subsidiary Olio Apparels received all their arrears and allowances on Sunday at the capital's BGMEA Complex.
Olio paid all the wages, overtime, and other allowances of the workers for October as per the Labour Act, AKM Siddiqur Rahman, head of human resources at Envoy, said in a statement.
He said reports that their wages were in arrears for three-four months were fake and misleading.
Read: RMG exports rise in Oct despite overall decline
On November 1, workers of Olio took to the streets, protesting the "closure" and relocation of the factory. They also demanded their unpaid wages.
A reconciliation meeting on labour-related issues took place among representatives of Olio, workers, the Bangladesh Garment Manufacturers and Exporters Association, and the government on Tuesday.
The meeting unanimously took a few decisions, including the payment of basic wages, service benefits, earned leave dues, maternity leave dues, and other payments of workers.
RMG exports rise in Oct despite overall decline
The Export Promotion Bureau (EPB) data show that, despite an overall drop in export earnings, Bangladesh's apparel sector recorded a 3.27 percent increase in revenue in October compared to the same month of the previous year.
In October of the current fiscal year, total export revenues fell 7.85 percent to $4.35 billion from $4.72 billion in the corresponding month of the fiscal year (FY) 2021–22.
However, earnings from apparel exports increased to $3.67 billion from the $3.65 billion reported in October of FY22.
Read more: Falling exports-remittances: Double blow to Bangladesh economy
According to EPB, Bangladesh's apparel exports during July-October of FY23 rose 10.55 percent year-on-year to $13.95 billion. During the same period last year, readymde garments (RMG) exports brought in $12.62 billion for the country.
"Although readymade garment shipments were expected to drop in October, this encouraging development is welcome," Mohiuddin Rubel, director of the Bangladesh Garment Manufacturers and Exporters Association, said.
"However, as global retail markets are struggling and buyers are taking cautious steps in placing new orders and managing inventory, as an entrepreneur in the apparel sector I am not optimistic about the trend of work orders and the sector's growth in the coming months."
Read more: RMG factories bearing power outages of 4 to 10 hours a day: BGMEA President
BGMEA urges US' Jordache to source more from Bangladesh
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged US clothing brand Jordache Enterprises to strengthen its partnership with its Bangladeshi suppliers and increase sourcing from the country.
BGMEA President Faruque Hassan requested the American clothing brand to collaborate with Bangladeshi apparel manufacturers to help them build their capabilities in producing garments which have high demand in the global market.
Read: BGMEA for more partnerships between Bangladesh, Germany to unlock trade, investment potential
"As Bangladesh is increasingly focusing on diversifying products and upgrading technologies, global buyers like Jordache have the opportunity to work with the suppliers to develop innovative high-end products and source them. It would create a win-win situation for both sides," he said.
Faruque made the comments while exchanging views with Assaf Safran, vice-president (sourcing, production and compliance) of Jordache in Dhaka Monday.
Read: BGMEA urges South Korea's Hyosung to invest in Bangladesh's backward linkages industries
David Toledo, director (production), Mary Perez, head of woven division of Jordache; Mohammad Abul Kalam Azad, country manager of Jordache Bangladesh Liaison Office, Ashaab Adeeb Hassan, director of Giant Group, and SM Majedur Rahim, director of Giant Group, were also present at the meeting.
BGMEA for more partnerships between Bangladesh, Germany to unlock trade, investment potential
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has underscored the need for more cooperation and collaboration between Bangladesh and Germany to unlock trade and investment potential.
BGMEA President Faruque Hassan sought the cooperation of Germany for the sustainable development of Bangladesh's apparel industry, especially in the area of environmental sustainability and skill development.
He also sought support in expanding Bangladesh's readymade garments (RMG) exports to Germany.
Read: BGMEA urges South Korea's Hyosung to invest in Bangladesh's backward linkages industries
The BGMEA chief made the call during his meeting with German Parliamentary State Secretary to the Federal Ministry for Economic Cooperation and Development (BMZ) Bärbel Kofler in Dhaka recently, said a media release Monday.
Members of the German Parliament and senior German government officials attended the dinner meeting hosted by the Embassy of Germany.
Read: BGMEA calls on South Korea's Youngone to invest more in Bangladesh
The meeting focused on prospects and challenges in the RMG sector in the context of Bangladesh's graduation from LDC and the new supply chain law in Germany and Europe.
Faruque Hassan expressed high optimism about working collaboratively by involving governments, buyers and suppliers in building a better supply chain that would benefit all parties.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Executive President Mohammad Hatem was present at the meeting.
BGMEA calls on South Korea's Youngone to invest more in Bangladesh
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called on South Korea's Youngone Corporation to invest more in Bangladesh and increase apparel sourcing from here.
A delegation headed by BGMEA President Faruque Hassan visited Youngone Corporation headquarters in Seoul Friday.
Faruque stressed the importance of collaborative growth and exploring the areas of excellence, especially a shift to non-cotton textiles and garments, product development and innovative capacity building.
Youngone Chairman Kihak Sung showed interest in working for expanding business in Bangladesh and collaborating with the BGMEA.
The BGMEA delegation included its Vice-President Shahidullah Azim, Director Asif Ashraf; Managing Director of DBL Group MA Jabbar, Managing Director of Hams Group Md Shafiqur Rahman, and Director of Giant Group Ashaab Adeeb Hassan, and Managing Director of Youngone Corporation Shaikh Shahinur Rahman.
Nuzhat Anwar, senior country officer of the International Finance Corporation (IFC) Bangladesh, and Nishat Chowdhury, programme manager of IFC's "Partnership for Cleaner Textile: PaCT," were also present.
M Delwar Hossain, ambassador of Bangladesh to South Korea, was also present at the dinner hosted by Kihak Sung in honour of the BGMEA delegation.
BGMEA urges South Korea's Hyosung to invest in Bangladesh's backward linkages industries
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged Hyosung Corporation, a leading South Korean industrial conglomerate, to invest in the backward linkages industries in Bangladesh, especially in the high value-added and non-cotton textiles sector.
BGMEA President Faruque Hassan made the call when a delegation led by him visited Hyosung Corporation in South Korea Friday.
The BGMEA delegation included its Vice-President Shahidullah Azim, Director Asif Ashraf; Managing Director of DBL Group MA Jabbar, Managing Director of Hams Group Md Shafiqur Rahman, and Director of Giant Group Ashaab Adeeb Hassan.
Nuzhat Anwar, senior country officer of the International Finance Corporation (IFC) Bangladesh, and Nishat Chowdhury, programme manager of IFC's "Partnership for Cleaner Textile: PaCT," were also present.
In the meeting, they discussed issues related to mutual trade interests, especially the prospect of setting up a manmade yarn and fabric textile industry plant by Hyosung in Bangladesh.
Faruque said Bangladesh has reached its peak in terms of producing cotton-based apparel. "So, the sector is increasingly focusing on tapping into the growing non-cotton garment sector."
"In this case, Hyosung can be a collaborative partner since it has to dominate the global market share for spandex," he added.
Hyosung Corporation is a comprehensive fibre manufacturer which produces the majority of leading world-class products such as creora, spandex yarn, aerocool and askin, polyester and nylon yarn throughout the fibre industry.
RMG industry always looking to increase capability, sustainability
The RMG industry of Bangladesh is strongly focusing on enhancing business capabilities attaching importance to sustainability, said BGMEA President Faruque Hassan on Tuesday.
He said the International Finance Corporation has already funded several studies for the RMG sector to explore its opportunities and ways to realise them.
A delegation of BGMEA led by President Faruque Hassan met Jiyeon Janice Ryu, Resident Representative of International Finance Corporation (IFC) in Korea on Tuesday.
The BGMEA team included Vice President Shahidullah Azim, Director Asif Ashraf, Managing Director of DBL Group M. A. Jabbar and Managing Director of Hams Group Engr. Md. Shafiqur Rahman. Nuzhat Anwar, Senior Country Officer, IFC Dhaka and Nishat Chowdhury, Program Manager of IFC’s "Partnership for Cleaner Textile: PaCT" program were also present.
They had discussions about issues related to the apparel and textile industry, particularly challenges and ways to accelerate environmental sustainability in the sector.
BGMEA President Faruque Hassan apprised the IFC of the progress made by Bangladesh’s apparel industry in the area environmental sustainability, including remarkable results reducing water consumption in the clothing sector of Bangladesh through the PaCT program supported by IFC.
The "Partnership for Cleaner Textile: PaCT" program has been supporting participating factories in reducing the carbon footprint and water footprint.
One of the studies aims to identify potential scope of non-cotton textile and apparel for Bangladesh in the global apparel market and formulate a strategy to develop the country's overall competitiveness and strength in the area.
He requested the IFC Representative in Korea to exchange knowledge and expertise in the area of sustainability from Korean perspective.
Faruque Hassan invited the IFC team in Korea to the Made in Bangladesh Week which will be organized by BGMEA on 12-18 November in Dhaka to promote Bangladesh and the RMG industry by showcasing its strengths and encouraging stories internationally.