The share of Bangladesh’s export in the global apparel market will surpass 10% by 2025, Bangladesh Garment Manufacturer and Exporters Association (BGMEA) president Faruque Hassan said on Saturday.
He also said that the percentage will be 7.5% at the end of the current fiscal year 2021-22, while exports may reach $41 billion, he also said.
Hassan was speaking at a press conference organized by International Apparel Forum (IAF), and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in the capital.
In the briefing, Faruque Hassan and secretary general of IAF Matthijs Crietee announced that the 37th IAF World Fashion Convention will be held in Dhaka in November later this year.
The International Apparel Federation (IAF) will host the convention in collaboration with BGMEA and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
The “Made in Bangladesh Week” will be held concurrently in Dhaka on November 12-18.They also unveiled the logos of the 37th IAF World Fashion Convention and the Made in Bangladesh Week.
“As we have achieved a certain level of growth and momentum, it is now time for us to leapfrog to the next level of growth,” Faruque Hassan said.
He also said that Bangladesh had made progress and had prospects as one of the most sustainable sourcing partners to the west, and that they had to work harder for safeguarding it.
The convention will play an important role in initiating a greater collaboration with key actors in the supply chain including buyers and suppliers and global stakeholders to ensure more sustainable manufacturing and sourcing, he added.
The “Made in Bangladesh Week” will provide a unique opportunity to showcase the impressive strides of Bangladesh’s RMG industry along with its continuous strive to pursue excellence in business capabilities to strengthen its standing as a safe, sustainable and competitive industry in the world, Hassan also said.
Secretary general of IAF Matthijs Crietee said that perhaps more than ever before, garment manufacturers play a pivotal role in the industry transformation.
On the international stage presented by the 37th IAF World Fashion Convention, the Bangladeshi apparel industry will show itself as a source of solutions to the industry’s current major challenges, he added.
He also said that Bangladesh is the second largest exporter of garments. It will also be a historic event for the IAF to be able to hold the 37th convention in Bangladesh on the 50th anniversary of the establishment of the IAF.
Fazlee Shamim Ehsan, vice-president of the BKMEA and board member of the IAF, said that Bangladesh has done a lot in the development of the garment industry.
“IAF will play a role in promoting the branding and good practice of Bangladesh,” he added.
The IAF convention will be a 3-day-long event where on the first day, a board meeting of all the IAF board of directors will be held.
The speakers including brands, retailers, suppliers, industry leaders, and academics will shed light on the current and future business trends, challenges, possible solutions, with an aim to make industry-wide efforts to create a better fashion industry for all.
Responding to a question, Faruque Hassan said that the annual convention will bring together IAF members, including apparel industry associations representing 40 countries, leading brands and other stakeholders.
He also responded that the convention will provide an opportunity for delegates and participants to network, to learn and to gain insights into the future direction of the industry.
He also responded that initiatives are underway to train the workers. If the country can be branded more positively, more purchase orders will be available.
Budget expectations
Regarding the upcoming budget of FY23, he said that they have two expectations.
First, they are seeking a fixed policy guideline for at least five years, and second, considering the global market demand, they urged special incentives for manmade fibre-based clothes export.
“In the international market, the demand for non-cotton fibre is 75%, whereas here the share of Bangladesh is only 5% of total demand,” he added.
The organizers also said that the “Made in Bangladesh Week” aimed to promote the local apparel industry globally by showcasing the compelling stories of the sector, especially its impressive strides in the areas of workplace safety, environmental sustainability and workers’ wellbeing.
Alongside sketching encouraging stories, the potential of Bangladesh’s RMG industry, its strengths, capabilities and future priorities to remain a preferred and competitive choice for global buyers will be highlighted among global stakeholders and audience, they added.
The weeklong event will include the following the 37th IAF World Fashion Convention, the 3rd Dhaka Apparel Summit, Bangladesh Apparel Exposition, Denim Expo, and the Award ceremonies like – Sustainable Fashion Award & Fashion Photography Award.
Mostafiz Uddin, managing director of Denim Expert Ltd, and chairman of Bangladesh Apparel Exchange (BAE), said that the main goal of IAF and Made in Bangladesh Week is to brand Bangladesh.
“Events that used to be held separately will be held under the same roof at the same time through Made in Bangladesh Week,” he added.
The program will also include a fashion & cultural festival, and global launching of BGMEA Innovation Center.
BGMEA First Vice-President Syed Nazrul Islam, Vice-President Shahidullah Azim, Vice-President (Finance) Khandoker Rafiqul Islam, Vice-President Md Nasir Uddin, Vice-President Miran Ali, Vice-President Rakibul Alam Chowdhury, Directors Barrister Shehrin Salam Oishee, Asif Ashraf, Md. Khosru Chowdhury, Inamul Haq Khan (Bablu), Barrister Vidiya Amrit Khan, Md Imranur Rahman, and Neela Hosna Ara, BKMEA Vice-President Md Akhter Hossain Apurbo were present at the press conference which was moderated by BGMEA Director Mohiuddin Rubel.
