The recent shocks as a result of the Covid-19 pandemic should make us wary
Bangladesh’s RMG industry continues to bring in the lion’s share of its export earnings, and as such, there should continue to be emphasis on its improvement, be it the safety of its employees, the efficiency of production, or the quality of products offered.
The findings from a recent study, commissioned by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH with support of BGMEA, states that sustainable growth as well as additional value can be derived if the RMG sector expands towards the production of technical textiles (TT) and personal protective equipment (PPE) -- these findings must be heeded by the relevant authorities concerned, and all stakeholders.
While Bangladesh has established itself as one of the main players when it comes to supplying textiles, the recent shocks as a result of the Covid-19 pandemic should make us wary, and therefore, we must explore any possible strategy that might give us a competitive edge.
Bangladesh’s RMG industry, while remaining a pillar of the economy, continues to face the same issues year on year. Industry leaders have often complained about buyers offering unfair prices, and despite Bangladesh now boasting the highest number of green factories in the world and an increased focus on safety of operations, there remains a stigma that is hard to shed.
Moving forward, diversifying what the RMG sector offers, along with a strategic approach to shifting this pre-conceived notion about the sector in Bangladesh, will go a long way to ensuring the sustainable health of this industry, and by extension, its continuous support of the Bangladesh economy.