United News of Bangladesh

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday sought an apparel ministry, easing loan classification and bond audit policy to expand apparel export to US $100 billion goal. Top leaders of the apparel sector are actively seeking government support to resolve the pressing challenges facing the pivotal apparel sector and to pave a way for its continued expansion. The BGMEA placed the demand to the government during a meeting with Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of both the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zone Authority (BEZA), held at the BIDA office. BGMEA President Mahmud Hasan Khan led the apparel sector at the meeting. During the meeting, the BGMEA President highlighted the substantial hurdles currently affecting the industry. “Global geopolitical instability, retaliatory tariffs imposed by the United States, cancellation of trans-shipment by India, high bank interest rates, and frequent increases in gas and electricity prices have created major challenges for the apparel industry,” he said. Khan emphasised the critical need for BIDA's cooperation to overcome these challenges and ensure the industry's expansion. Won't take any decision that might be conflicting with national interests: Bida Chief The BGMEA delegation, which included Vice President (Finance) Mizanur Rahman, Vice President Barrister Vidia Amrit Khan, and Director Samiha Azim. From BIDA and BEZA, Executive Member (Investment Ecosystem) Md Mokhlesur Rahman (Additional Secretary) and BEZA Executive Member Saleh Ahmed (Additional Secretary) were also present at the meeting. BGMEA’s Proposals BGMEA placed a series of proposals before the Bangladesh Investment Development Authority (BIDA), aiming to enhance the competitiveness and sustainability of the country’s apparel industry. At the heart of the proposals is the plan to establish an integrated garment industrial zone in Chattogram. The BGMEA President called for the consolidation of scattered small and medium-sized factories into a designated industrial area. To facilitate this, he urged BIDA and the Bangladesh Economic Zones Authority (BEZA) to allocate a plot of land to BGMEA at a symbolic price. Stressing the importance of environmentally responsible production, the association called for a clear roadmap along with technological and financial assistance to encourage the installation of solar panels in factories. The issue of financial policy and regulatory burden also came under focus. BGMEA leaders requested Bangladesh Bank to extend the current loan classification grace period from three to six months, citing difficulties faced by entrepreneurs in repaying installments during financial crises. They also described the bond audit process as burdensome and obstructive to export operations. To streamline and ensure transparency, BGMEA proposed outsourcing bond audits to 20 designated institutions. Another significant proposal was the formation of a dedicated Ministry of Textiles and Apparel, separating the industry from the jurisdiction of the Ministry of Commerce. Top global port operators tapped to boost Bangladesh’s infrastructure: BIDA chief BGMEA argued that such a move would ensure focused policy support and sectoral growth. In response, BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun acknowledged the critical role of the apparel sector in the national economy, and assured that BIDA would continue to extend all necessary support and work closely with the private sector to drive further development in the industry.