- The garment sector warned of a crisis amid concerns over labour regulations.
- Industry leaders urge protection of reputation and stronger financial support.
- Export growth is seen to require diversification and supportive government measures.
The head of Bangladesh’s knitwear sector has cautioned that the nation’s garment industry could be facing a crisis similar to the downturn previously experienced in the jute industry, due to worries about recent changes in labor regulations.
During a session named “The Potential of Bangladesh’s RMG Sector: The Way Forward” at the Global Sourcing Expo 2025 held at the Bangladesh–China Friendship Exhibition Centre in Purbachal on Monday, BKMEA President Mohammad Hatem warned that the industry could repeat past mistakes if corrective actions were not implemented.
Syeda Rizwana Hasan, Advisor to the Minister of Environment, Forest and Climate Change and the Minister of Water Resources, stated that Bangladesh’s garment industry had established a robust international reputation that needs to be protected, expressing confidence that the sector could uphold its standing.
IFIC Bank Managing Director Syed Mansur Mustafa stated that the bank is placing greater emphasis on SME financing and urged for a more thorough investigation into the 400 factory closures reported by the media.
Fazlee Shamim Ehsan, President of the Employers’ Federation, stated that banking regulations ought to assist accountable borrowers, while FBCCI Administrator Md Abdur Rahim Khan pointed out that the restricted export portfolio of Bangladesh is apparent during trade discussions. He expressed hope that the nation would successfully engage with global markets following its transition from LDC status, despite potential tariffs from certain export destinations.
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Director Akhter Hossain Apurbo of the Bangladesh Employers’ Federation contended that several rival developing countries leverage government subsidies to enhance their export competitiveness, proposing that Bangladesh should explore comparable strategies.
Export Promotion Bureau Vice-Chairman Hasan Arif stated that the nation needs to put in significant effort to address structural challenges in order to achieve a more robust export future. At the same time, Syed Sultan, Chair of the Labour Reform Committee, asserted that the garment sector has expanded over the last forty years on a robust base that recent labour law changes will not undermine.