The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has underscored the need for constructive dialogues, research, economic diplomacy and engagement with governments and stakeholders at the international level so that Bangladesh's economic growth momentum continues when it graduates from the least developed countries (LDCs).
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said finding pragmatic ways for retaining the market access facilities is vital to remain competitive in export markets, while creating new market opportunities will be equally important to explore.
He emphasised efforts in securing the continuation of trade benefits for Bangladesh for 12 years after it graduates from the LDC category in 2026.
Faruque made the observations during a meeting with Foreign Secretary Masud Bin Momen and Ambassador Rabab Fatima, permanent representative of Bangladesh to the UN, at the Permanent Mission of Bangladesh to the UN in New York Tuesday. Director of Giant Group Sharmeen Hassan Tithi was also present.
The discussion encompassed issues regarding Bangladesh's LDC graduation, possible changes in the tariff regime in export markets and how preferential market access can be continued in the post-LDC time.
The BGMEA chief apprised them of the research initiative of the apparel industry's apex body to explore market opportunities for ready-made garment (RMG) exports.
He also briefed them about the new Centre of Innovation, Efficiency and Occupational Safety and Health, which is being established at the BGMEA headquarters in Uttara to enhance the competitiveness of Bangladesh's RMG industry.