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Chinese team, BGMEA eye broader investment avenues
A high-level delegation of investors from various industrial sectors in China in a meeting with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) focused on joint investment in the diversified products sector.
The meeting was held at the BGMEA Complex in the capital on Thursday.
The BGMEA side was led by its Senior Vice President, Inamul Haq Khan, while the Chinese delegation was led by Frank Yi, Chairman of the global fashion partner BETTEX Industries Ltd.
Among others were attended by BGMEA Vice President Md. Shihab Uddoza Chowdhury, and Directors Faisal Samad, Md. Hasib Uddin, Rumana Rashid, and Mohammad Sohel, said a pres release.
The meeting focused on exploring trade and diversified investment opportunities between Bangladesh and China, particularly in the apparel industry's backward linkage sector.
The Chinese delegation comprised representatives from diverse sectors, including: Textile, Fabrics, and Backward Linkage, IT, AI, and Supply Chain Technology, Hi-Tech Industry, Education and Technical Research, Legal Consultancy and Dispute Resolution.
A major point of discussion was the potential for joint investment in key sectors, notably the backward linkage industry for apparel—including Man-Made Fiber (MMF) which is crucial for the industry.
BGMEA leaders highlighted Bangladesh's increasing focus on upgrading technology and machinery to enhance its capacity for producing high-value products, especially MMF-based garments.
BGMEA Senior Vice President Inamul Haq Khan urged Chinese businesses to pursue joint investments in MMF-based textiles, chemicals, and renewable energy sectors.
He said such investments would boost the industry’s competitiveness, reduce production costs, and shorten lead times. Furthermore, he sought Chinese cooperation in adopting cutting-edge technologies like AI-driven supply chain solutions, integral supply chains, 3D prototyping, and Digital Product Passports to prepare for the challenges of LDC graduation.
BGMEA Director Faisal Samad emphasized the importance of close communication between the businesses of both countries. He proposed a coordination meeting between BGMEA and Chinese businessmen in January, which would be organized in collaboration with BETTEX Industries Ltd.
Samad also proposed signing a Memorandum of Understanding (MoU) with the Cheung Kong Graduate School of Business (CKGSB) in China for education and research cooperation. Additionally, he suggested that a Chinese law firm could provide an effective platform for resolving commercial disputes that often arise between the two parties over the import of fabrics from China.
The Chinese delegation expressed a strong interest in joint investment in critical areas, including renewable energy.
They agreed to the proposed January meeting and extended an invitation to the BGMEA leaders to visit major fabric manufacturing centers in China.
The Chinese delegation included YI, SHANWEI Chairman, Weihai Bettex and YI, RAN Project Manager, IT and Supply Chain experts LUO, FEI, Chairman, Beijing Mofeng Technology and GAO, BIN, President, Nanjing Zhiyi Network Technology, reports UNB.