BGMEA, HSBC forge partnership to boost BD's apparel exports

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and The Hongkong and Shanghai Banking Corporation Limited (HSBC) on Sunday signed a strategic partnership agreement to strengthen the global presence of Bangladesh's apparel industry through joint market expansion initiatives.

The Memorandum of Understanding (MoU) was signed at the BGMEA office in Dhaka by BGMEA President Mahmud Hasan Khan and HSBC Bangladesh Chief Executive Officer Md Mahbub ur Rahman on behalf of their respective organisations, according to a press release.

Under the agreement, the two organisations will jointly organise a major apparel roadshow in Hong Kong to connect Bangladeshi exporters with international buyers, global brands and business partners.

The initiative is aimed at diversifying Bangladesh's export destinations beyond its traditional markets by expanding its presence across Asia.

The partnership will also utilise the upcoming Bangladesh Textile Expo (BATEXPO) as a platform to showcase the country's apparel and textile industry to domestic and international stakeholders.

Speaking at the signing ceremony, Mahmud Hasan Khan said HSBC's extensive global banking network and strong relationships with international buyers would help attract new sourcing partners that are not currently importing garments from Bangladesh, thereby broadening the country's export base.

Md Mahbub ur Rahman described the ready-made garment (RMG) industry as the backbone of Bangladesh's economy and reaffirmed HSBC's commitment to supporting its long-term growth.

He underscored the need for research into evolving global sourcing trends and urged BGMEA to focus on key priorities, including market diversification, supply chain efficiency and increasing Bangladesh's share of the global apparel market.

The collaboration will focus on exploring new export destinations, strengthening Bangladesh's position in global supply chains and highlighting the industry's advances in sustainability, innovation and modernisation.

BGMEA Senior Vice President Enamul Haque Khan, Director Shah Rayed Chowdhury and senior officials from both organisations attended the signing ceremony.