The week-long Made in Bangladesh Week 2022 is set to brand the country and to showcase its capabilities, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said at a briefing on Saturday.
“At the event, we will show what we have done and what we are doing in our apparel industry,” he also said.
He was speaking at the press briefing just before the commencement of the expo, which begins on Sunday, where Prime Minister Sheikh Hasina is expected to inaugurate it on the day.
Asked about challenges amid the ongoing global economic turmoil, Hassan said that they will continue to strive and keep Bangladesh's market shares rising.
“We have done tremendous development in the last several years and we want to showcase that to our buyers, brands, partners, supply chain, development partners, and the media,” he added.
Replying to another question, he said that during the Made in Bangladesh Week, several events will be held concurrently which made it different from all previous events in the apparel sector.
BGMEA believes that they will organize such events every year to showcase the new innovation and development of each and every factory. Fashion Designing Runway Show will help local designers, he added.
Asked whether this kind of grand event would affect the economy during this turbulent situation, the BGMEA president said that the event won't create any further pressure on the dollar, but would rather help in fetching more forex reserves.
“Most of our major sponsors are from overseas, who are paying them in dollars. Moreover, 100+ participants from outside the country are taking part in this event who are making their payment in dollars, pounds or euros,” he said, adding that it will not create any deficit in dollars but will also help the economy in some ways.
Moreover, there are many sponsors in this event, who have paid the tax money of the government before giving the sponsor money. Through this, the government is also getting revenue, he added.
Showcasing to future buyers
In response to another question, he said all brands and buyers who are currently doing business with Bangladesh will be present at this event. Even those who don't have a business will also participate.
Asked about the energy crisis, he said that there were, are and will be challenges in this sector.
“This is now a global challenge. Now we want to show the buyers what new and innovative products we have come up with despite all the challenges,” he said, noting that they were discussing how to deal with the challenge and moving forward with everyone.
In his speech, Cem Alton, president of the International Apparel Federation, said that they are happy to organize the IAF at Dhaka, one of the biggest exporters of the apparel items of the world.
“It will be an example for the global apparel industry,” he added.
IAF is a federation represents over 150,000 members from more than 40 countries representing companies or institutes in technology, business services, retailing, logistics, culture and education.
Sanjay Jain, group CEO of PDS Limited, one of the main sponsors of MIBW, thanked the BGMEA and Bangladesh Apparel Exchange (BAE) for this event.
“PDS has been doing business in Bangladesh for many years, having two factories and business with 300 other factories,” he added.
He also said that PDS is doing business worth $1 billion annually from Bangladesh and their target is to make it $2 billion.
“PDS is also helping many middle and small industries by financing,” he added.
Ranjan Mahtani, executive chairman of Epic Group, the "powered by" partner of the event, said that Bangladesh became the largest apparel exporter of the sub-continent.
“The country is growing now. The apparel industry is now a $50 billion-dollar industry. There is so much talent in Bangladesh. Now the country needs to focus on infrastructure and the other aspects of the industry vertically,” he added.
In the briefing, BGMEA president also elaborated about the events, agenda, and contents of the MIBW.
