HSBC, Serai, BGMEA talk about way forward for RMG sector

The Hongkong and Shanghai Banking Corporation Limited (HSBC), Serai Limited and Bangladesh Garments Manufacturers and Exporters Association (BGMEA) joined hands together to discuss Bangladesh’s apparel industry, global apparel demand landscape and technological penetration under the current context.

The virtual webinar was attended by members of BGMEA, HSBC customers, regulators, apparel buyers of various countries and officials from the host organisations on Wednesday, according to a press release.

Industry leaders from across the apparel ecosystem (manufacturing, advisory consulting, finance and technology) discussed about change of demand landscape, Bangladesh’s unique position in apparel world and necessary efforts to cope with the new environment of change and disruption in global apparel.

The programme began with short speeches and discussion between HSBC Bangladesh’s Chief Executive Officer Md Mahbub ur Rahman, BGMEA President Dr. Rubana Huq and Serai Limited’s CEO Vivek Ramachandran.

According to the press release, Serai is a new technology subsidiary of HSBC, the world’s leading trade bank. It is a platform that brings together buyers and suppliers to build trusted relationships, with an initial focus on the garment and apparel industry. The platform allows industry participants to share relevant data in a highly secure manner with their partners and access a range of digitals solutions.

Md Mahbub ur Rahman said, “The Serai platform is aiming to be an effective conduit for industry players to an open source platform with a shared approach. This will ultimately enable the apparel industry to reduce duplication and costs, re-build trusting relationships and make faster and better trade decisions.”

BGMEA president Dr. Rubana Huq said, “The industry can only retain and strengthen its position by restructuring its capabilities, adapting to the new consumerism, responding to needs of lean manufacturing, reduced lead time, and online engagement. Effective B2B is one of the most effective ways ahead.”