50 Star US Inc.
Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), called on the International Monetary Fund (IMF) to assist in the expansion and development of Bangladesh's garment industry, highlighting the crucial role the IMF plays in the nation's economic development and international trade.
On Sunday, October 15, BGMEA President Faruque Hassan received a courtesy call from an IMF delegation headed by Rahul Anand, Head of Mission, IMF in Bangladesh, at the BGMEA Complex in Uttara, Dhaka. BGMEA made this call to the IMF at this moment.
The discussion covered a wide range of topics pertaining to Bangladesh's ready-made clothing sector, including the sector's current state, the state of international trade, and how the global economy affects the nation's export performance. In addition, the opportunities and difficulties facing the clothing sector were also covered.
Furthermore, there was a significant discussion on matters pertaining to LDC graduation in Bangladesh and the potential effects of this graduation on the country's commerce and economy. In addition, it was stressed how important it is to get ready for the new challenges that the post-LDC period will bring.
BGMEA President Faruque Hassan briefed the IMF team on the Sustainable Strategic 2030 of the Garment Industry, emphasizing that the vision is to achieve the expansion of the garment industry in a more sustainable manner with good effects on Bangladesh's environment, economy, and people's quality of life.
He emphasized Bangladesh's outstanding achievements in the area of ecologically sustainable development and stated that efforts are still being made to reach greater excellence in this area, particularly with regard to the reusable and circular economies.
In view of better growth possibilities, Faruque Hassan remarked, Bangladesh's RMG business is aggressively trying to expand its product line by adding value-added commodities, particularly non-cotton products.
According to him, the RMG sector is employing innovation and technology more and more to boost output and effectiveness. To fulfill the industry's growing need for skilled labor, there is also a considerable focus on developing new skills and closing skill gaps.
Comments