BGMEA: Gas scarcity is still a problem, but the electricity crisis is almost over.
“But we must maintain the situation and improve it,”
Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), stated on Saturday that while the clothing industry’s electrical problems had largely been resolved, frequent gas supply interruptions were remained a major problem.
He added that several factories, including his own, were reporting relatively shorter diesel-fired generator working times, indicating that things had improved during the previous several months.
Hassan was addressing during the press conference held in Dhaka following the Made in Bangladesh Week.
But we must maintain and improve the situation, he continued.
He also praised the government’s actions in importing LNG from Brunei.
In response to a different query, he stated that while inventories increased, the rate was not adequate.
“The prolonged conflict between Ukraine and Russia has a major impact on the volume of purchase orders. Our industry will also see an increase in orders if the situation across the world returns to normal, he added.
He claimed that a sizable number of both established and emerging firms attended the just closed expo, made purchases, and expressed commitment to sourcing clothing from Bangladesh.
“We also talked about the kinds of things the new customers want. They occasionally went to the plants and spoke with the producers face-to-face to communicate their demands,” he continued.
Additionally, he believes that visitors to the show will return home with job orders for Bangladesh.
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According to him, the MIBW significantly drew buyers from emerging markets where corporate communications are less developed than in the US and Europe.
Surprisingly, 43 of the nearly 150 Middle Eastern purchasers that signed up for the MIBW are from Iraq. Being always interested in new markets and new customers, it is highly advantageous for us. There were customers from India as well as other nations, he continued.
Additionally, he stated that PDS Ltd wanted to boost its annual sourcing from Bangladesh from $1 billion to $2 billion.
In light of the still-tumultuous state of the world economy, he continued, “We commit to investigate some new markets outside of the US and EU.” Since 2009, the share of the nontraditional market has grown dramatically, and at present, they export approximately 15% of their entire output to new markets.
He stated that there are now some management concerns with RMG waste, and some of it is being exported.
“However, we are striving to recycle fake clothing, and Bangladesh will soon be the center of the recycling. Then, rather than exporting, we’ll import garbage from other RMG-producing nations,” he continued.
Additionally, he desired government policy support for bond, tax, and customs clearance processes.
In response to a query on GSP facilities in the US, he stated that although exports to the destination significantly increased after the GSP facilities were lifted in 2013.
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The president of the BGMEA also gave a rundown of the summits, expos, awards, and tours that coincide with the Made in Bangladesh Week.
It was a major event, according to Shahed Mahmud, country director for PDS Limited, in his remarks.
Additionally, he suggested planning frequent events like this.
At the press conference, Abdullah Al Maher, group CEO of Asrotex Group, also addressed.