Economy
Alibaba Delegation Meets BGMEA President to Explore Online Opportunities for Bangladesh Garment Sector
A delegation from Alibaba, the global retail and e-commerce giant, recently visited Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), at the BGMEA Complex. The Alibaba team, including Daniel Zhou, Global Business Development Manager; Tim Song, Head of Global Strategic Partnerships; Lu Fan, Sales Planning and Operations; and Nasri Ma, Business Development Manager for Bangladesh, engaged in discussions with key representatives of BGMEA, such as Vice President Khandoker Rafiqul Islam and Director Abdullah HilRakib.
The meeting centered around exploring opportunities and potential collaborations between Alibaba and the Bangladesh garment sector in the evolving global online market. Key points of discussion included current online market trends and the prospects for Bangladesh’s garment industry in the digital marketplace.
Both parties delved into possibilities for business opportunities, with a specific focus on leveraging Alibaba’s online platform for the benefit of Bangladeshi garment exporters. Technical knowledge sharing and training initiatives were also on the agenda to enhance the capabilities of Ready-Made Garment (RMG) exporters in Bangladesh.
Faruque Hassan, President of BGMEA, highlighted the importance of adapting to dynamic market trends to maintain competitiveness and capitalize on emerging opportunities. He expressed optimism about the potential of virtual marketplaces for Bangladesh’s RMG sector and emphasized the strategic role that collaboration with Alibaba could play in establishing direct connections between Bangladeshi manufacturers and end customers (B2C).
This visit aligns with BGMEA’s ongoing efforts in the digital transformation of Bangladesh’s apparel sector. A previous study project by BGMEA, officially unveiled on January 25, 2024, identified challenges and opportunities in the RMG sector. The study aims to integrate the local textile industry into global value chains and capture the shift towards online purchasing.
The report outlines market potential, sector readiness for digitization, sustainable business models, policy gaps, and necessary strategies for successfully implementing the proposed virtual marketplace. As Bangladesh’s garment industry looks towards a digital future, collaborations with global giants like Alibaba are poised to shape the landscape of online business for the sector.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
