Chief Adviser’s Special Envoy Lutfey Siddiqi welcomed representatives of global brands and buyers of readymade garments for a dialogue at his office on Thursday.
Underscoring the importance of this industry, Special Envoy Lutfey Siddiqi expressed gratitude for the constructive engagement and contribution of the buying community through a period of challenges and changes.
He expressed cautious optimism in metrics such as export volumes, remittances and cargo handling that have defied expectations to show double-digit percentage growth versus the previous year.
Other factors, including law and order, labour relations, and liquidity, show signs of improvement but still require vigilant monitoring. Structural challenges such as port and energy infrastructure deficiencies and skill gaps will take more time to address. However, reforms in decision-making processes can help accelerate progress in these areas, he said.
The buyers' representatives noted that this marks the first time they have engaged directly with the government at the ministerial level.
They highlighted additional concerns for the government to address, including weak brand protection, restrictive credit facilities for imports, and the absence of a dedicated green energy plan for the sector.
They expressed full support for the government’s agenda around labour standards and rejected the suggestion that their pricing policies could stand in the way of better wages.
It was also mentioned that global brands with their observations on the ground are well-placed to help narrate and project the true story of Bangladesh, as it is evolving right now, to the international audience.
The special envoy thanked them for their support, especially against the backdrop of disinformation in certain arenas.
Among others who were present in the meeting were Ziaur Rahman of H&M and Javier Santonja of Inditex.
