Aligning business strategies with changing trends in the fashion industry and building capabilities accordingly is a must to sustain in the global competitive market, said Faruque Hassan, president of BGMEA.
Globally the apparel industry is undergoing rapid and notable changes mostly driven by evolving technologies, and requiring businesses to cope with the new business landscape, he said.
Bangladesh's RMG industry is focusing on remodelling business, product diversification, and technology upgradation to remain sustainable and cost-competitive, he added.
Faruque made the remarks while addressing the inaugural ceremony of the ninth edition of Intex South Asia as a special guest, reports UNB.
Minister of Textiles and Jute Minister Golam Dastagir Gazi (Birpratik), MP attended the programme as chief guest, which was organised Worldex India in Dhaka on Thursday.
Executive President of BKMEA Mohammad Hatem, Managing Director of Worldex India Rajesh Bhagat, and Director of Worldex India Arti Bhagat also spoke at the event.
The BGMEA president said Bangladesh's apparel industry is laying emphasis on non-cotton products as man-made fibre has been dominating the global market for a long time, and would be continued in the coming days as well.
The manufacturing landscape would be influenced by 3Cs - Cost, Competitiveness and Closeness while industry 4.0 would be the key to achieving manufacturing and supply chain excellence, he said.
Faruque also stressed the exchange of knowledge, expertise and technologies within the South Asian region, saying that cooperation and collaboration are very important for sustainable and inclusive growth and development.