BGMEA for necessary policy support to retain RMG sector’s competitiveness

The Bangladesh Garment Manufacturers and Exporters
Association (BGMEA), has sought policy support of the government necessary to
sustain competitiveness of the export-oriented industries, particularly the
ready-made garment sector, even after Bangladesh’s graduation from the list
of least developed countries (LDCs) in 2026.

A delegation of BGMEA, led by President Faruque Hassan, made the call during
a meeting with Ahasanul Islam (Titu) MP, State Minister of the Ministry of
Commerce at the secretariat in Dhaka today, said a press release.

The delegation included BGMEA Vice President Shahidullah Azim, Directors Asif
Ashraf, Faisal Samad, Barrister Vidiya Amrit Khan, Inamul Haq Khan (Bablu),
Md. Imranur Rahman, and Neela Hosna Ara.

The discussions encompassed the current state of the RMG industry,
preparedness for LDC graduation-related challenges, and possible steps to
enhance trade competitiveness and explore new export markets.

BGMEA President Faruque Hassan apprised the State Minister of the major
challenges confronting the RMG industry, including a decline in exports due
to high inflation globally, rising prices of energy and raw materials.

He pointed to the recent decision by the government to reduce cash incentives
for garment shipments and other export-oriented products, expressing concern
that such a sudden decision would have a negative impact on Bangladesh’s
garment exports, thus on foreign reserves since the RMG industry alone
contributes around 84 percent to the total export earnings.

Faruque urged the government to reconsider the decision and continue the
policy support of cash incentives as before.

As the preferential trade benefits currently enjoyed by Bangladesh as an LDC
will no longer be available after the graduation, Faruque stressed the need
for necessary policy measures to help the country address upcoming challenges
in the international trade landscape.

He also urged the government to ease export procedures for the RMG industry
to overcome existing challenges and progress forward.

The BGMEA President praised the Commerce Ministry for its support in
exploring new export destinations and enhancing the skills of the RMG
workforce.

He expressed optimism that with concerted efforts and support from the
government, Bangladesh’s export-oriented industries, especially the RMG
sector, can navigate the evolving global trade scenario successfully. (BSS)