The apex apparel body BGMEA exhorts its member exporters to enhance business capabilities in line with the emerging business demand to stay competitive.
It also seeks investment in the backward-linkage industry to develop capacity as Bangladesh will face double-transformation rules of origin in post-LDC era.
Change in the global business landscape is quicker and competition stiffer than ever mainly due to rapid advancement in technology and business trends, BGMEA president Faruque Hassan said on Wednesday.
"We have to keep pace with the changing business landscape and enhance capabilities in line with the emerging knowledge and technologies to remain ahead in competition in the global market."
Mr Hassan said this at an iftar party hosted by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for its members at a city hotel, reads a statement.
The Centre of Innovation Efficiency and OSH (CIEOSH)-established by the BGMEA to support RMG industry with knowledge, skills and technical know-how to face future challenges and boost competiveness-opens next month.
Mr Hassan says his organisation is also working on apparel diplomacy in its effort to open a window of opportunity for domestic apparel industry and realise untapped trade potential.
On BGMEA board members' recent visits to Europe, the USA and Canada, he says they sat with key stakeholders, including World Trade Organisation, Labour Organisation, key figures at European Union, American Apparel and Footwear Association, and Worldwide Responsible Accredited Production.
The visits and the subsequent meetings were part of the diplomacy strategy, he adds.
Discussions and engagement with stakeholders not only help strengthen business relations and retain trade benefits, but also pave the way for new opportunities, according to the statement.
"We have to work on future priorities of the garment industry, especially more focus on diversification of products, market and innovation in product development and process optimisation," Mr Hassan cites.
The industry is also giving priority to shift from cotton to value-added non-cotton products like technical textiles.
The move will require technological upgradation and skills development in the sector, he observes.
Mr Hassan recognises the need for investment in the backward-linkage industry to develop its capacity as Bangladesh will face the double-transformation rules of origin in the post-LDC era.
The RMG industry is not only about bringing valuable foreign exchange for Bangladesh through exports, he says, it also serves as a catalyst for socioeconomic development of the country.
The industry is also a means for millions to transform their lives, he concludes.
Former BGMEA presidents SM Fazlul Hoque, Abdus Salam Murshedy and Siddiqur Rahman attended the programme.
BGMEA vice-presidents SM Mannan (Kochi), Shahidullah Azim, Khandoker Rafiqul Islam and Md Nasir Uddin, among others, were also present.
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