Chief Advisor’s Special Envoy Lutfey Siddiqi has emphasized the significance of the RMG sector and conveyed appreciation for the “constructive engagement and contribution” of the international buyers’ community during a time of difficulties and transitions.
On Thursday, Siddiqi invited buyers of ready-made clothing and representatives of international brands to his office for a discussion.
He voiced cautious optimism about indicators like cargo handling, remittances, and export volumes that have failed to meet forecasts of double-digit percentage growth over the prior year. Although they still need careful observation, other aspects like labor relations, law and order, and liquidity seem to be getting better.
Beyond that, structural limitations like our energy infrastructure, port infrastructure, or skill gaps will take longer to address, but we should be able to do so more quickly thanks to changes in our decision-making procedures.
The representatives of the buyers noted that this is the first time they have had the chance to interact directly with the government at the ministerial level in this way.
They brought up weak brand protection, restrictive credit facilities for imports, and lack of a dedicated green energy plan for this sector as additional issues for the government to focus on.
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 own 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, according to the Chief Adviser’s press wing.
The Special Envoy expressed gratitude for their assistance, particularly in light of the spread of false information in some areas.
Ziaur Rahman from H&M and Javier Santonja from Inditex were among the other attendees of the meeting.