Moon Report: A delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by President S M Mannan (Kochi), paid a courtesy call to Honourable Foreign Minister Dr Hasan Mahmud, MP, at the ministry in Dhaka on May 21.
The BGMEA delegation included Senior Vice President Khandoker Rafiqul Islam, Vice Presidents Arshad Jamal (Dipu), Abdullah Hil Rakib, Miran Ali, Directors Md Imranur Rahman, Mohammad Sohel Sadat, Shams Mahmud, Rajiv Chowdhury, Md Mohiuddin Rubel, Barrister Shehrin Salam Oishee, Md Nurul Islam, and Saifuddin Siddiquie Sagar, according to a press release.
They discussed product diversification and strategies to enhance ready-made garment exports to new markets.
During the meeting, the BGMEA President emphasized the significance of market and product diversification to reach the goal of achieving $100 billion from garment exports by 2030.
He noted that garment exports to new markets have increased from $847 million to $8,370 million with government policy support over the past 15 years.
BGMEA seeks the cooperation of Bangladesh’s relevant embassies in organising road shows, networking with buyers, and participating in key fairs to increase exports to new markets, particularly to Brazil, Argentina, Russia, South Africa, Turkey, and ASEAN countries.
He also highlighted the importance of bilateral and regional free trade agreements with these potential markets.
During the meeting, the BGMEA President sought the Foreign Ministry’s support in addressing the potential impact of LDC graduation on the country’s export trade and continuing duty-free facilities in major export markets.
The Foreign Minister emphasized the need to diversify into new products and explore new markets, especially in Africa, South America, and ASEAN countries.
He assured the delegation of the Foreign Ministry’s full cooperation in this regard, mentioning ongoing discussions with various countries to remove tariff barriers in these potential markets.
