Due diligence is a key element for a compliant and sustainable apparel industry in Bangladesh, said speakers at the closing ceremony of Bangladesh Denim Expo.
They pointed out that the brands and buyers will have to help entrepreneurs in terms of technology transfer, labor compliance, and other standards. It is a good business proposition for brands and buyers to work with the entrepreneurs.
The two-day ‘Bangladesh Denim Expo’, an international platform dedicated to showcasing the vibrant Bangladesh denim industry and driving it towards a sustainable future began on Monday.
The expo was organized by Bangladesh Apparel Exchange at ICCB, Dhaka, Bangladeshwhere over 45 exhibitors from 7 countries showcased their latest denim products, fabrics, accessories, chemicals, technologies etc.
On the 2nd day of the event, Panel Discussions2: Shaping RMG Sector in Future: GSP+ and LDC Transition, session addressed the critical issues surrounding Bangladesh's transition from LDC status by 2029 and the need to secure GSP+ eligibility to maintain market access.
M Riaz Hamidullah (Moderator), Additional Foreign Secretary (Multilateral and Regional), Ministry of Foreign Affairs, Government of the People's Republic of Bangladesh said “Many people believe that Bangladesh would be able to meet all of the expectations. But there are a lot of challenges. ”
Dr. Mostafa Abid Khan, Component Manager, Support for Sustainable Graduation Project (SSGP), Economic Relations Division, Ministry of Finance. Said “We are excessively reliant on the garment sector. And it is effectively flourishing in Bangladesh.
Edwin Koekkoek,First Counsellor & Team Leader, Green Inclusive Development, Delegation of the European Union to Bangladesh, said “In the area of sustainability, due diligence is a key element. In Bangladesh, we can see progress on labor rights and environmental standards. The decarbonization of Bangladesh will be a priority.”
Ole Rosenborg Justesen, Sector Counsellor, Embassy of Denmark in Bangladesh, said “I would focus on 3 areas in terms of working with Bangladesh. They are labor rights, labor law & inspection, and investments in the supply chain. Labor inspection is absolutely crucial in terms of improving the working conditions of factories.”
Professor Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD), said “I’m very hopeful that the success story of the Bangladeshi RMG industry will continue. Bangladesh is very poised for LDC graduation. I think we will have to restructure the incentives in terms of the challenges that are coming. My proposition will be that brands and buyers will have to help our entrepreneurs in terms of technology transfer, labor compliance, and other standards.”
