BGMEA seeks NBR support for apparel competitiveness

Garment exporters yesterday urged the revenue authority to provide faster and hassle-free services so they can remain competitive in the global apparel market, according to a press statement by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Simplified and faster business procedures and services are imperative to maintaining the industry's global competitiveness, said BGMEA President Faruque Hassan.

He made the observations at a meeting with National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem at the NBR headquarters in Dhaka yesterday.

Hassan pointed out changing trends in the fashion industry, where shorter lead times for product deliveries are required, particularly for high-end garments.

The support and cooperation of the NBR is vital in the readymade garment (RMG) industry for realising its Sustainability Strategic Vision 2030, said the BGMEA, the trade body representing apparel makers, Bangladesh's largest export earners with earnings of around $47 billion annually.

This vision aims to enhance the competitiveness of the RMG industry while simultaneously fostering sustainable growth, it added.

BGMEA President Hassan underlined the importance of NBR's support and cooperation in the pursuit of this vision.

He said necessary support from the NBR is essential for the RMG industry to maintain its export competitiveness and growth momentum, particularly in the post-least developed country (LDC) era.

"LDC graduation brings with it a new set of realities for Bangladesh, with both opportunities and challenges, particularly in the context of changes in the tariff regime. Bangladesh must take strategic steps to retain the industry's competitiveness in the post-LDC period," he added.