The global fashion industry is shifting towards non-cotton garment products due to rising cotton prices and dwindling supply. Along with global markets, the demand for man-made fibers is increasing in the local RMG sector. Highlighting such information, FBCCI has urged Wales’s businessmen to invest in the textile sector in Bangladesh.
Meeting with the All Chambers Wales Trade, Investment & Education Mission, UK was held on November 26, 2022, Saturday at the FBCCI office.
Addressing the event, FBCCI President Mr. Md. Jashim Uddin said, “About 83 percent of Bangladesh’s total exports come from the RMG sector. After LDC graduation, most of the value addition of export goods should be done locally to get GSP-plus benefits in the European market. In this regard, the textile industry, especially man-made fiber, will be one of the potential investment sectors.”
Besides, the FBCCI president also informed about investment possibilities in renewable energy, ceramics, furniture, information and communication technology, and human resource development. He said that there are opportunities for individual or joint investment of businessmen in Bangladesh. He assured us to provide support to entrepreneurs from Wales who are interested in investing in Bangladesh.
The delegation of Wales was headed by the executive chairman of the Chamber Wales Mr. Paul Slevin.
Speaking at the occasion he mentioned that, “Wales and Bangladesh have opportunities for bilateral cooperation in trade, education and culture,” he urged both governments to include the private sector in all development works.
Mr, Paul Slevin Stated that, “Skill is now most important to face the challenges of competitiveness.”
Participating in open discussions, the speakers emphasized the development of technical collaborations between institutions in Wales with the institutions of Bangladesh to develop skilled manpower.
Mostofa Azad Chowdhury Babu, Senior Vice President of FBCCI delivered concluding remarks. He said, “the meeting will open up a new dimension for strengthening the bilateral trade relation between Bangladesh and Wales.”
Among others, FBCCI Vice President Md. Amin Helaly, Md. Habib Ullah Dawn, Directors, Secretary General Mohammad Mahfuzul Hoque, and Distinguished Members of All Wales Trade, Investment and Education Mission of the UK attended the meeting.