Dhaka, July 25 (V7N)- Bangladesh’s position as the world’s second-largest garment exporter may face challenges due to internal issues and global economic uncertainty, leaders of the Bangladesh Textile Mills Association (BTMA) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have warned.
They made the remarks at a panel introduction meeting ahead of the election of the board of directors of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) on Saturday (July 25).
Speaking at the event, BTMA President Shawkat Aziz Russell said manufacturers are currently facing multiple challenges, including financial difficulties and security concerns. He warned that the situation could become more difficult if these issues remain unresolved.
He also opposed imposing additional value addition requirements on exports and relaxing existing restrictions on free-of-cost (FOC) imports. According to him, such measures could encourage dependency on imported raw materials instead of promoting local sourcing.
Business leaders attending the event said the country’s ready-made garment (RMG) sector is going through one of the toughest periods in recent years.
They identified rising production costs, financial pressure, policy uncertainty and administrative complications as major factors affecting the competitiveness of Bangladesh’s garment industry in the global market.
The industry leaders urged authorities to take effective steps to address these challenges and ensure a stable business environment to protect Bangladesh’s position in the international apparel market.
END/SMA/AJ
