The Bangladesh Garment Manufacturers and Exporters Association has initiated a move for research and development, innovation, product diversification and value addition for the future sustainability of the readymade garment sector.
To implement the initiative the trade body on Monday sought Tk 5.5 crore from the fund provided by the World Trade Organisation to Bangladesh as a least developed country.
The WTO provides financial assistance to the LDCs for innovation and product development.
Quoting a BGMEA spokesperson, it reported that the top apparel trade body’s President Rubana Huq on Monday held a meeting with commerce minister Tupu Munshi at the Bangladesh Secretariat and handed him a letter seeking the Tk 5.5 crore assistance for using it on research and development, innovation, productivity enhancement and value addition.
‘As a WTO member country we get fund from the organisation for business development and the commerce ministry is considering the BGMEA demand,’ Tipu told reporters.
According to ministry sources, the BGMEA has demanded Tk two crore for the purpose of research and development for future sustainability of the RMG sector, TK 75 lakh for establishment of a productivity centre, Tk 75 lakh for development of harmonised and unified planning tools for the sector and another Tk two crore for product innovation and moving up to the value added segment.
Being an LDC, Bangladesh receives fund from the WTO for trade facilitation and the BGMEA has requested the government for providing financial support from the fund to do some research in four important areas of the sector, BGMEA vice-president Arshad Jamal Dipu told New Age on Monday.
Courtesy : New Age