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The United States wishes to support Bangladesh expand its private sector to partly step away from the RMG industry

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rmgThe United States has said it wants to help Bangladesh diversify its private sector to partly step away from the ready-made garment ( RMG) industry into other high-value sectors, like the digital economy. The announcement at the third annual US Government Indo-Pacific Business Forum, which was held almost from Hanoi , Vietnam, was issued by USAID Deputy Managing Director Bonnie Glick on Wednesday. The Covid 19 has destroyed global supply chains. “Trade and investment have been interrupted and frontier workers have been challenged and millions of other workers, particularly women, have been replaced, as it has done with unparalleled pace and size,” she said.

 “I can tell you that from the US government’s perspective, one of the things that we’re looking at to help Bangladesh with is how Bangladesh can diversify its private sector…,” US Agency for International Development (USAID) Deputy Administrator Bonnie Glick Glick said in a telephonic briefing. US Under Secretary of State (Economic Growth, Energy, and the Environment) Keith Krach also spoke at the recent briefing. Glick said that Bangladesh has taken some significant steps towards clean paths and is compliant with the Clean Network criteria to be a competitive participant in the Clean Network. The Deputy Administrator announced a new arrangement with a US supermarket, clothes and footwear consortium, and organizations in the industry to support women, most of whom are supply chain employees in Bangladesh, Sri Lanka, Vietnam and Cambodia. The new agreement is announced. “These are countries that rely heavily for their growth in income on the garment industry, and this is a sector that was particularly hard-hit by the Covid-19 pandemic,” said Glick.

The Asian industry of clothes, footwear and fashion accessories has been one of the industries most affected, challenging supply and demand restrictions caused by domestic demands, temporary market shutdowns, production shutdowns, cargo delays and so on. The participating companies and industry associations are that are partnering with through the MoU are Carter’s Incorporated, Gap Incorporated, Global Brands Group, Levi Strauss  and  Co, Nike, Tapestry, Target, VF Corporation (that’s V like victory, F like francisco Corporation), Walmart, American Apparel and Footwear Association, the National Retail Federation, the Retail Industry Leaders Association, and the US Fashion Industry Association.

“The MoU that we signed establishes an intent to work together over the coming year on efforts that will help alleviate hardships faced by the predominantly women workers in the companies’ supply chains in these four countries,” Glick said.  And these efforts, in collaboration with local partners, are aimed to help to foster a more resilient sector and workforce, she said.

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