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Bangladesh RMG makers against FDI in apparel sector
21
Apr '12
Bangladeshi readymade garment (RMG) producers have opposed foreign direct investment (FDI) in domestic apparel and textile sector.

Expressing their unhappiness over the idea of allowing FDI in the country's garment and textile sector, they said local players are competent enough to cater to global demand.

Shafiul Islam Mohiuddin, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), who headed a trade delegation at a meeting with Industries Minister Dilip Barua, said protectionism is a commonly followed practice in several countries.

He said the Bangladesh RMG sector is also seeking protectionism to safeguard the domestic apparel and textile sector.

Mr. Mohiuddin further said that being located outside the country, foreign entrepreneurs lack a chance of direct interaction with their workers, while domestic entrepreneurs meet their workers at least once in a week, which facilitates amicable employer-employee relationship.

The BGMEA President, however, said presently Bangladesh RMG industry is switching from manufacturing of basic garments to high-end items. Hence, the Government may consider allowing FDI in certain RMG segments like specialized textile items, so that the garment producers can procure fabrics from domestic market, rather than importing the same from China or elsewhere, he noted.

Mr. Barua called on the domestic apparel makers to produce more value-added items to enhance employment generation in the country, and thereby to facilitate development of an industry-based economy.

Fibre2fashion News Desk - India

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