The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organized a successful meet-up and dialogue exchange program with media professionals at the Pan Pacific Sonargaon on June 1st. This event aimed to foster stronger relationships between the garment industry and the media, promoting transparency and collaboration. Key discussions focused on the upcoming Bangladesh budget, the latest developments in the garment sector, sustainability initiatives, and the industry’s economic impact.
The newly-elected BGMEA board of directors.
S.M. Mannan Kochi has been elected as the new president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for the 2024-2026 term. Under his leadership, the new board of directors took charge on April 6, 2024, during BGMEA’s.
The newly-elected BGMEA board, after assumption of its office on April 6 this year, was present on the occasion. Besides, former BGMEA president and Dhaka North City Corporation (DNCC) Mayor Atiqul Islam, former BGMEA president Abdus Salam Murshedy, MP, and former BGMEA president and Awami League Industries and Commerce Secretary Siddiqur Rahman spoke, among others, on the occasion.
BGMEA President S.A. Manna Kochi, emphasized the association’s commitment to maintaining high standards and ethical practices. The event provided an excellent platform for open dialogue, enhancing mutual understanding and support between BGMEA and the media.
BGMEA has called for comprehensive policy support from the government in the upcoming FY25 budget to sustain and enhance the competitiveness of the ready-made garment (RMG) sector. Including making effective the tax at source at the previous 0.50 percent instead of 1 percent against exports and thus keeping it intact for next five years. BGMEA also urging the government to reconsider the recent reduction in cash incentives for garment shipments till 2029. Because these incentives are vital to counter the decline in exports caused by global inflation and rising production costs.
BGMEA President S.A. Manna Kochi addressing in the media meetup event.
Key discussions included Resolving RMG Sustainability Council (RSC) related complexities, simplification of business, particularly reducing NBR, VAT, customs and Banking process complexity, continuing cash incentives till 2029 and providing alternative support, taking bank and financial sector service related initiatives, introducing exit policy and export credit guaranty facilities, bringing in the SMEs under special policy support and financing schemes, increasing competitive edge through automation and digitalization, taking initiatives on product and market diversification, food rationing programs for garment workers to help mitigate the economic challenges they face, thereby maintaining workforce stability and productivity, fixing fair price of products and floor price, formulating unified code of conduct, increasing capacity of the industry for building environment-friendly factories, and providing special policy support for motivating investment in man-made fiber -based industry.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) often hosts meet-ups with various stakeholders to discuss industry issues, developments, and future plans. Attendees praised the initiative, recognizing its importance in building a more informed and cohesive industry narrative. Such events typically attract a range of print and electronic media personalities who cover these sectors. These personalities play a crucial role in disseminating information to the public and industry stakeholders. Because they present news stories related to the garment industry on television, provide live coverage and reports from the event location, discuss industry issues and interview key figures from the garment sector on talk shows, cover events in real-time through news websites and provide commentary and detailed analysis through blogs, social media, and other digital channels.
