Dhaka: Commerce, Industries, and Textiles and Jute Minister Khandakar Abdul Muktadir emphasized the need for Bangladesh’s textile and ready-made garment (RMG) sector to focus on sustainable production systems, innovation, research, and product diversification to maintain long-term global competitiveness. He highlighted this during the ‘Grand Launching Event of Textile Innovation Exchange’ at a hotel in the capital.
According to Bangladesh Sangbad Sangstha, the minister stressed that sustainability is crucial for the industry’s survival and future growth. He pointed out that with Bangladesh’s limited natural resources, efficient use of electricity, gas, and water is vital in industrial production. Energy conservation, water recycling, circular production systems, and improved management practices were underscored as essential for optimal resource utilization.
Muktadir acknowledged the remarkable success of Bangladesh’s RMG industry over the past decades but noted its export dependency on a limited range of products. He warned of potential difficulties in sustaining a competitive edge globally unless the industry transitions towards higher value-added products like sportswear, man-made fibre-based apparel, and technical textiles.
Addressing the European market challenges and Bangladesh’s graduation from the Least Developed Country (LDC) category, Muktadir urged for proactive product diversification and exploration of new export destinations. He also emphasized the importance of research, design development, skills enhancement, and modern technology adoption to elevate the industry.
Highlighting the textile sector’s role in economic development, Muktadir noted its significant contribution to industrialization and export growth through large-scale employment with relatively low investment. He mentioned the sector’s untapped potential, contingent upon proper planning and innovation.
Regarding the reopening of closed industrial units, the minister stated that the government would avoid funding non-functional factories with outdated machinery. Instead, industry-specific solutions like industrial park development, public-private partnership initiatives, and lease-based investment models would attract fresh investment. Decisions on these matters would involve consultation with experienced private sector entrepreneurs.
Muktadir also mentioned plans to revitalize promising sectors such as leather, light engineering, and shipbuilding through modern technology, skills development, and international cooperation. He welcomed the Textile Innovation Exchange initiative, advocating for collaboration between industry and academia to modernize and enhance the competitiveness of Bangladesh’s textile sector.
In addition to Muktadir, the event featured speeches from Professor Dr Engineer Md Julhas Uddin, Enamul Haque Khan, Professor Dr Engineer Ayub Nabi Khan, Md Abdul Hamid, and Engineer Md Enayet Hossain. Engineer Md Shamsuzzaman delivered the welcome speech, while Dr Md Hasib Uddin and Tareq Amin also addressed the audience. Engineer Ehsanul Karim Kaisar concluded the event with his remarks. The minister later inaugurated the Innovation Textile Exchange platform and toured various stalls at the venue.