Digitisation, lead time reduction, product diversification and focus on online marketplace, were some points that came up very strongly at a recent discussion, in which the experts emphasised that if Bangladesh is to hold on to its position of eminence in the global market, these factors would play a significant role.
Experts made these observations while taking part in a webinar titled ‘Bangladesh Apparel: Resilient, Flexible and Ready to Connect’ organised recently by the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) jointly with Hongkong and Shanghai Banking Corporation Limited (HSBC) and Serai Limited.
Serai is HSBC’s new technology subsidiary, which, with an initial focus on apparel industry, aims to bring together buyers and suppliers to build trusted relationships.
Speaking at the event, the BGMEA President Dr. Rubana Huq maintained that Bangladesh RMG sector can retain and improve upon its position by restructuring its capabilities, reducing lead time, online engagement, responding to needs of lean manufacturing and adapting to the new consumerism.
Taking part in the event, discussants underlined that the mass disruption in global apparel market on account of the coronavirus pandemic presents Bangladesh an opportunity to reinforce its position as a leading apparel supplier.