A delegation of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) led by President S. M. Mannan (Kochi) met with Textiles and Jute Minister Jahangir Kabir Nanak, MP at the secretariat on May 13.
The delegation, comprising BGMEA Vice President (Finance) Md. Nasir Uddin, Vice President Abdullah Hill Rakib, and Directors Md. Imranur Rahman, Md. Ashikur Rahman (Tuhin), Shams Mahmud, Md. Nurul Islam, Saifuddin Siddiquie Sagar, and Md. Rezaul Alam (Miru), had discussions regarding various challenges confronting Bangladesh’s ready-made garment industry.
Md. Abdur Rauf, Secretary, Ministry of Textiles and Jute, and Md Nuruzzaman, Director General at the Department of Textiles were also present at the meeting.
BGMEA President S. M. Mannan (Kochi) said the garment industry is passing through a difficult time due to various local and international factors.
He pointed to the decline in consumer demand and spending on clothing in developed countries alongside fall in product prices, and a manifold increase in production costs within the industry.
Over the past five years, rising gas and electricity prices, wages, bank interest rates, and transportation costs have led to the rise in the cost of doing business by approximately 50 percent on average, he added.
In these circumstances, the BGMEA President underscored the importance of policy support, particularly in lessening the tax load on the sector, to ensure its sustainability and foster export growth, thereby safeguarding employment opportunities.
Uninterrupted gas and power supply, streamlined business processes through reduction of customs hindrances, bond audits, and VAT complexities in goods clearance, are also essential for the RMG sector, he added.
In the meeting, the preparedness of the garment industry for the post-LDC era was also discussed, as many trade benefits currently enjoyed by Bangladesh would be no longer available following the country’s LDC graduation.
The BGMEA President stressed the necessity of policy support to attract increased investment in promising sectors.
Textiles and Jute Minister Jahangir Kabir Nanak, MP underscored the garment industry’s substantial contribution to socioeconomic development and poverty alleviation, affirming the government’s recognition of it as an important economic driver.
The Minister said he would hold meeting with higher government authorities and the National Board of Revenue (NBR) to address complications faced by the garment industry in relation to customs and taxation.
He assured the BGMEA leaders of the all-out cooperation from the Textiles and Jute Ministry to the RMG industry.
