They said efficient management is a must to sustain the competitive global market as productivity increases when a factory is run professionally. It also helps the industry reduce wastage in all stages of production.

The observations came at the seminar on 'Professional Management in the Garment Industry' at Sonargaon Hotel. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) organised the seminar in collaboration with DHL on the occasion of Batexpo 2003 that began yesterday.

Earlier, Prime Minister Khaleda Zia formally inaugurated the biggest exposition of ready made garment (RMG) products and accessories.

Speaking at the seminar, Professor Muzaffer Ahmed of the Institute of Business Administration, Dhaka University, said professional management is needed not only for increasing productivity but also for reducing of cost of finance.

"To help the apparel sector a separate RMG bank and insurance company are also needed, which will reduce the cost of finance," he suggested.

Stressing the need for a training institute for garment workers, Prof Ahmed said BGMEA should take initiative to establish such a training centre.

BGMEA Vice-president SM Nurul Haque said RMG sector in Bangladesh should attain a standard in professional management to meet the challenges in the quota-free regime after 2004 and to overcome the existing limitations.

Akbar Hassan, CEO and managing director of Briddhi, a local industrial and marketing consulting firm, presented keynote paper at the seminar.

He said it would be difficult for Bangladesh to even retain its present position in the quota and duty free markets as buyers are getting more demanding day by day.

That is why, the exporters must ensure the right products, at the right time, at the right place and in an undamaged condition, he suggested.

Hassan said most companies in other exporting countries are preparing themselves for the expected increase in market competition by improving quality and efficiency of their workforce through professional set up.