BGMEA President Faruque Hassan underscored the need for sustainable trading system and buyers-suppliers relationship to perform well in the “new normal” situation that has emerged as a result of the Covid-19 pandemic. 

“Deeper partnership that brings greater agility and accountability will help us to mitigate future ruptures,” he said.

Faruque Hassan made the remarks during his speech at a webinar on ‘New Normal’ Business Opportunities held on December 14.

China Daily Leadership Roundtable and Asian News Network, an alliance of 23 national media in 20 Asian countries organized the event where leading regional economists and business executives discussed prospects of expected growth business sectors in 2022.

Albert Park, Chief Economist, Asian Development Bank, Manila delivered the keynote speech at the webinar which was also attended by Dillip Rajakarier, CEO at Minor Hotels, Bangkok; Axton Salim – Director, Indofood, Jakarta; and Wong Chun Wai, former CE0, The Star Media Group, Kuala Lumpur as panelists. 

Pana Janviroj, Editor, Asia News Network moderated the session.

BGMEA President Faruque Hassan said it is high time Bangladesh made investments in the backward linkage industry to develop own capacity and capability. 

“The uncertainty and vulnerability created due to that overconcentration has been greatly exposed during the Covid-19. Since we have proudly graduated from LDC status, a strong and self-sufficient backward linkage industry will also help us to comply double transformation rules of origin.”

He said the Covid has created opportunities like- virtual marketplace and expansion of online-based sales. 

“Virtual marketplace can be a big source of our growth, as well as to move from OEM (Original Equipment Manufacturer) to be design and brand manufacturers. But we cannot do it alone. It can only be done through the regional collaboration and cooperation of the brands and other stakeholders.”

The BGMEA President also laid emphasis on more focus on capacity building re-skilling and up-skilling of workforce to cope up with the technological changes due to the 4th Industrial Revolution.