Sheikh Bashir Uddin, Adviser to the Textiles, Jute, and Commerce ministries, has urged stakeholders in the textile industry to prepare for upcoming challenges as Bangladesh transitions from its status as a Least Developed Country (LDC). His remarks came during the National Textile Day 2024 seminar held at the Jute Diversification Promotion Center (JDPC) in Dhaka.
Bashir Uddin highlighted the necessity of unity and strategic planning to mitigate potential disruptions in the sector. He stated that Bangladesh faces a number of challenges going forward as an LDC graduate nation. The crucial step that is the decision to reduce incentives will expose the country to export market tariffs since those incentives will no longer be available after graduation.
He emphasised the importance of adopting solar energy and advanced technologies to lower operational costs and improve efficiency within the textile industry. He added that a viable solution to reduce expenses could be solar power. He also emphasised that in order to foster growth in the industry, new entrants are required to be academically equipped as well as professionally skilled.
The seminar, titled Overview of the Textile Sector in Bangladesh: Problems, Prospects, and Smart Way Out, was organised by the Ministry of Textiles and Jute and featured discussions among industry experts, policymakers, and leaders regarding the current state and future of the sector.
BKMEA President Md Hatem emphasised the importance of long-term planning and timely policy implementation to advance the sector. He stated that the textile industry’s development requires visionary strategies and coordinated efforts.
