India and Bangladesh's trade bodies sign MoU for mutual development
In textile and apparel industry, collective efforts are the need of the hour and that too not only within a cluster or country but also with the neighbouring countries. Recognising this fact, Indian and Bangladesh-based leading textile and apparel associations have joined hands for mutual support. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Confederation of Indian Textile Industry (CITI) recently signed an MoU to support each other in various fields and work collectively. It is pertinent to mention here that Bangladesh’s apparel export to India was over US $ 187 million during July-October 2018. It saw a gain of 168 per cent compared to the same period last year.
BGMEA is one of the largest trade associations in Bangladesh representing the readymade garment industry, particularly the woven garments, knitwear and sweater sub-sectors with equal importance. While CITI is the leading industry chamber of the textile and clothing sector of India, and represents the major leading regional and industry associations and 17 major corporate members, thus, covering the entire textile value chain from farm to garments, made-ups and the textile machinery industry. Md. Siddiqur Rahman, President, BGMEA and Sanjay Jain, Chairman, CITI signed an MoU recently in Delhi. Talking to Apparel Online, Rahman said, “Looking at the global scenario, trade corridors are opening and there are huge opportunities for countries like India and Bangladesh as far as textile and apparel industry is concerned.
With joint efforts, both the countries can grow.” He further added that MoU has focus on many areas like knowledge transfer, identifying areas for mutual growth etc. “India and Bangladesh are natural partners and can cater to such areas where anyone of the both is lacking. Jointly we will be carrying out trade promotional activities in both the countries,” informed Sanjay. In another development, the CITI has also signed a similar kind of MoU with Uzbekistan.
Md. Siddiqur Rahman (L), President, BGMEA and Sanjay Jain, Chairman, CITI signed the MoU in Delhi