Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has discussed collaboration for the Ready Made Garment (RMG) industry’s development with Li & Fung Executive Chairman Spencer Fung.
Faruque discussed the matter at a meeting with Fung, Li, and Fung CEO Deepika Rana in Hong Kong on Wednesday, according to a press release.
Azfar Hassan, director of Giant Group, who was also present at the meeting, focused on fostering collaboration and discussing important trade-related matters within the apparel industry of Bangladesh, it said.
The discussions ranged from the current state of the global apparel industry to the potential prospects for Bangladesh, along with Li and Fung's strategic plans for business expansion within the country.
Among the key points discussed was the exploration of avenues for collaboration between Li and Fung, and BGMEA to unlock opportunities for the Bangladesh apparel industry.
They also discussed potential partnerships and strategies to tap into the industry's untapped potential.
Their talks encompassed the possible collaboration between Li and Fung and the BGMEA University of Fashion and Technology (BUFT) to enhance the knowledge and skills of students, particularly in areas such as product and design development and the latest manufacturing technologies, the release also said.
At the meeting, the BGMEA president urged Li and Fung to consider increasing garment sourcing, especially value-added products from Bangladesh.
In his remarks, Spencer Fung commended the pivotal role played by BGMEA in advancing Bangladesh's garment industry. He specifically highlighted BGMEA's contributions to market promotion and branding through apparel diplomacy.
Expressing optimism about the global market opportunities for Bangladesh's apparel industry, Spencer encouraged the sector to actively adapt to changing market dynamics.
He also suggested that Bangladesh could consider manufacturing hard goods for exports, the release also said.
Both parties expressed their interest in forging a mutually beneficial partnership for the growth and development of the apparel industry in Bangladesh.
