Clicky
Business

FBCCI to aid CII in developing synergies in RMG sector


Published : 01 Oct 2020 08:37 PM | Updated : 01 Oct 2020 09:01 PM

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) in a joint collaboration with the Confederation of Indian Industry (CII), earlier on Wednesday hosted a virtual conference titled ‘India-Bangladesh Virtual Conference on Textiles and Apparel Sector’.

In his inaugural speech, the Vice-president of FBCCI said, “Textiles and garments industry has been a part of our century old communal heritage. Bangladesh and India each have developed core competencies that can be channeled towards joint synergies tapping into the global value chain of the US$1trillion apparel market.

 In FY 19-20, Bangladesh’s garments and textile export to India stood at US$421mn. Considering a global reorientation of the value chain, markets, and consumer trends, we see good prospects for further growth in India’s 1.2bn+ consumer market.”

Highlighting an earlier discussion on differed LC payment facilities from Indian Banks for Bangladeshi purchases, he further said, “If a revised provision on deferred payments is worked out, it will assist in increasing in procurement volumes of our enterprises from India. It will also enable bilateral value chain initiatives for greater import of backward linkage products from India and facilitate Bangladeshi exports of apparel and textiles to India and beyond.”

Highlighting the long bond of friendship between the two nations Minister of Textiles and Jute, Govt. of Bangladesh said, “Bangladesh has been the biggest ally of India and with improvement in policies and infrastructure under the current government we can leverage on trade facilities. Additionally, spinning, weaving, dyeing are sub-sectors where we can collaborate to develop and grow according to the evolving needs of the consumer.” The President of BGMEA said, “It is time for collaborative competition, not just competition. If Bangladesh and India collaborate, we can achieve great things.” The Co-Chairman of CII National Committee on Textiles and Apparel underscored the importance of collaborating in areas of textile R&D while expressing his keen interest on collaboration between the two nations.

Highlighting a joint collaboration to reduce the lead time Minister of Textile, Govt. of India said, “To facilitate reduced lead time between the trade of two nations we will be engaging with our counterparts in Bangladesh involving the Ministry of Infrastructure and other relevant stakeholders. Additionally, any existing issues that have been highlighted by our counterparts through this platform will be identified and discussed in our future engagements.” 

She also highlighted the Indian Government’s distinct provision for technical textiles and the diversification of jute products requesting her Bangladesh counterpart’s expert aid.

Textile and Jute Minister Golam Dastagir Gazi (Bir Protik) ,Rubana Huq, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA); spoke at the inaugural session of the virtual conference. 

 Additionally, manufacturers, exporters, importers, and business leaders highlighted existing issues on both sides in a session chaired by Mr. Abdul Matlub Ahmed, the President of India Bangladesh Chamber of Commerce and Industry 

 Md. Munir Hossain, the Director FBCCI; Mohammad Ali Khokon, Director, FBCCI; Salahuddin Alamgir Director, FBCCI; Sultan Riaz Chowdhury, President of Bangladesh Cotton Association; Md. Moshiul Azam (Shajal), Vice President of BGMEA also spoke in a session following the inauguration of the virtual conference.