In response to the formidable challenges posed by ongoing global events, garment exporters and textile millers convened today to voice their urgent demand for the reinstatement of previous levels of export cash incentives. Recognizing the critical need for policy support to bolster competitiveness, industry leaders underscored the vital role of sustaining incentives to fortify the sector against prevailing uncertainties.
Representatives including Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Mohammad Ali Khokon, President of the Bangladesh Textile Mills Association; and Mohammad Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association, convened in separate meetings in Dhaka to articulate their unified plea.
During discussions with Finance Division Secretary, Md Khairuzzaman Mozumder, the delegation emphasized the indispensable nature of cash incentives in navigating the intricate global trade landscape. Last year’s reduction in incentives, enacted through government circular, was acknowledged as a measure aimed at facilitating the nation’s progression to developing status. However, given the evolving challenges, the industry advocates stressed the imperative of reverting to previous incentive levels to safeguard the sector’s resilience and sustained growth.
Furthermore, in a separate meeting with State Minister for Commerce, Ahasanul Islam, the BGMEA president reiterated the call for extended policy support. Emphasizing the pivotal role of policy frameworks in enhancing competitiveness, the industry highlighted the necessity for proactive measures to bolster the garment sector’s positioning in the global market.
As Bangladesh’s garment and textile industry navigates the complexities of global trade dynamics, the collective appeal from industry leaders resonates as a clarion call for strategic measures to safeguard the sector’s vitality and ensure its continued contribution to the nation’s economic prosperity.
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