Corporate Bazaar 2008: Seminar on Ready Made Garments

Corporate Bazaar 2008 was inaugurated at the Bangladesh-China Friendship Conference Centre in Dhaka earlier today. This is third year in a row the fair, concerning the corporate culture of the country, is now underway. Corporate Bazaar 2008 is organized by Aamra networks. A seminar on how to increase revenue from Ready Made Garments export was held on the first day of the fair.

At the seminar, there were three panel members including Prodeep J. Sugathadasa, Director & General Manager, Paxar Bangladesh Limited, Fazlul Haque, President, BKMEA and Lurens. F. Muller, Country Manager, The Cotton Group B&C. The seminar was hosted by Aamra resources limited. The seminar was conducted by Syed Farhad Ahmed, Managing Director of aamra group of companies. All the speakers were very much optimistic regarding the future of RGM sector of Bangladesh and pointed out some important initiatives to be taken in order to increase the revenue from RMG sector in Bangladesh.

Lurens. F. Muller addressed the development of infrastructure in the sector as one of the ways to increase the revenue from RMG export. Besides, Mr. Lurens Muller also stressed on the technological development of the sector, indicating the ever-increasing competition with other markets like China. He said technological development would help the manufacturers provide better customer satisfaction like delivering the products in time. However, he also said that government has some responsibilities on the matter. He called on manufacturers to offer value added items and more fashionable items what, to him, would increase the revenue from RMG sector. Being asked if price is the only factor to take into account, Lurens said that price is one of the factors, while giving some focus on the reliability between manufacturers and buyers and the cooperation with each other.

Prodeep J. Sugathadasa did also point out some key issues to generate more revenue from RMG export. He said Bangladesh garments industry was growing rapidly indicating its being doubled in the last two and half years. He viewed product diversification as one of the ways to increase the revenue of RMG sector. He stressed on launching different product lines in order to create new sources to increase the revenue. He believes that product diversification would help RMG sector to meet its goal.

Aside from price being a factor in generating more revenues, Prodeep J. Sugathadasa also indicated world class facilities and strong middle management with high priority. To him, management of the factories has a lot to do with giving better customer satisfaction which will help the factories to have more revenues from RMG sector. Saying that Bangladesh has the advantage of lower labor cost, he urged to improve equipment.

Fazlul Haque, president of BKMEA, also talked about some important issues needed to in order to increase the revenue from this sector. He said that 40% increase in the productivity was readily possible in the factories even without spending a dollar more on equipments. He said that even the best factory in the country was producing half of its maximum capabilities. So, BKMEA organized a three-month long program in which the policy makers of the factories would be able to learn how to increase the productivity within the same set of facilities. He also focused on product diversification as one of the ways of increasing revenues from EMG export sector. Mr. Haque said with sheer confidence that BangladeshCambodia, China in terms of social compliance. However, he admitted that Sri Lanka has an edge over BangladeshBangladesh was getting RMG market on the interpersonal relationships with the buyers. Rather, he said that it had been the credibility of Bangladesh that they were providing better quality and service and getting the similar response from the buyers in RMG export. He called on people of the manufacturing companies to negotiate with the representatives of foreign companies with confidence. was not far behind the countries like when it comes to social compliance. He also focused on negotiation with the buyers as one of the key issues to attract the buyers. However, he strongly opposed the concern that

Mr. Farhad Ahmed was expressing his thoughts and ideas over the issue while changing the turn of the panel members. He talked about the state of the run products. He focused on better management within the factories.

Following the session of the panel members, there was open discussion accepting suggestions and questions from the audience. A few foreigners from different garments related institution were joined in the discussion. They have pointed out that Bangladesh needs to increase its image in the outer world as there remain some wrong ideas about Bangladesh in abroad. They all said that Bangladesh has huge some competitive advantages in RMG sector, while they need to develop its infrastructure and technology in order to get the best out of it. It was also found out that government has some responsibilities here. Bangladesh embassies in different countries can play a vital role to increase country branding in abroad. So, the seminar ended with some points which are needed to take in to account to increase the revenue from RMG export.