BGMEA upbeat about RMG success despite drop in work orders

| Updated: November 21, 2022 17:28:26

BGMEA upbeat about RMG success despite drop in work orders

A sluggish trend in placing work orders by global apparel buyers still continues in the local garment sector due to a decline in demand for clothing worldwide.

Despite the fact, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) expects that - as per yet-to-be-released data of the World Trade Organization (WTO) - the global market share of the local readymade garment (RMG) products would increase to 8.0 per cent in 2021 from 6.26 per cent in 2020.

"It (global market share of local RMG) would further rise in 2022," BGMEA President Faruque Hassan said at a press conference on Sunday.

Exporters are still getting less work orders from their respective buyers due to high inflation in major markets, he said.

BGMEA earlier said that about 20 per cent of work orders declined in July last.

Many new buyers and their representatives visited the 'Made in Bangladesh (MIB) Week' that took place in Dhaka last week, while the meeting of a top official of Uniqlo, one of the largest Japanese retailers, with the prime minister this month would bring some good results too, he noted.

Mr Hassan said exports of no other major garment producing countries except Bangladesh grew in recent months amid slowdown in demands.

No work orders have shifted from the country, he assured, adding that they did not face any problem in opening letters of credit either.

Besides, he said, the electricity condition has improved here and gas supply will be improved soon.

"I see a positive future ahead," the BGMEA president said.

Amid the global factors, the RMG sector leader said, they are now focusing more on branding both the country and RMG sector.

This initiative will help bring more work orders to local RMG factories, Mr Hassan noted.

BGMEA organised the MIB Week to showcase the strength, capability and good practices of the local RMG industry in order to brand the country, he said.

He said they will inform the outcome of the week-long event in the next week.

As part of the branding move, Mr Hassan said the BGMEA has sponsored three global events - International T20 ODI wheelchair tournament scheduled to be held in India from January 17 next year, world miss university peace pageant in South Korea next month, and showcasing local rickshaw in Manchester museum.

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