Mostafiz Uddin
RMG NOTES
Mostafiz Uddin is the Managing Director of Denim Expert Limited. He is also the Founder and CEO of Bangladesh Denim Expo and Bangladesh Apparel Exchange (BAE). Email: mostafiz@denimexpert.com
RMG NOTES
Mostafiz Uddin is the Managing Director of Denim Expert Limited. He is also the Founder and CEO of Bangladesh Denim Expo and Bangladesh Apparel Exchange (BAE). Email: mostafiz@denimexpert.com
How will it impact Bangladesh’s garment manufacturers?
First, is any of this even ethical? Second, how is Shein retailing clothing so cheaply?
Over the past two or three years, we have seen a huge backlash against sustainability marketing in the West.
What is more important: being a successful, financially viable business, or being a sustainable business?
How many times have we heard that customers will pay extra for more sustainable—recycled, in this case—products?
Bangladesh has emerged as a significant player in the global garment industry, securing its position as the second-largest garment exporter worldwide. The country’s remarkable journey from economic struggles to becoming a key player in the textile and apparel sector is a testament to its resilience and adaptability.
And while cost reduction is essential, it should not come at the expense of product quality.
Fashion and textile supply chains stand to benefit greatly from the rise of the responsible investor.
What happens when you have done all that you can, but your emissions continue to go in the wrong direction?
Without fashion retailers and their suppliers working together, our industry as a whole will continue to see emissions rising.
It is time to reduce our dependence on fossil fuels altogether.
How can we reduce CO2 emissions associated with our industry?
As we head into 2023, there is a sense of trepidation in the business landscape. As 2022 drew to a close, it felt at times like many companies were limping towards the end of the year.
Targets for carbon emissions are closing in fast on some of Bangladesh's largest trading partners. Some have set targets for 2030. Things are moving more quickly than anybody could have imagined on this issue.
I am not ruling out the possibility of Bangladesh being granted a place in the GSP+. I would rather argue that we need to also prepare for a time when we can stand on our own two feet as far as international trade is concerned. To do this, I believe we now need to make faster moves on bilateral Free Trade Agreements (FTAs) and also preferential trading agreements (PTAs) with some of our existing trading partners, where we can negotiate mutually gainful benefits and opportunities. It is a new game that our government and businesses must start preparing for.
In theory, this sounds like a good idea, but it is not so straightforward.
There is anecdotal evidence that investment is taking place to upgrade operations to meet the demands of international customers.
The discussion on holding the largest emitter to account was notably lacking at the conference.