Apparel Online Bangladesh Magazine August Issue 2018 | Page 8

FROM THE EDITOR-IN-CHIEF’s DESK… The Alliance for Workers Safety is winding up its operations in Bangladesh by December this year, claimed its Executive Director Jim Moriarty recently, which in a way marks a new chapter for the Bangladesh apparel industry. Accord is also expected to make its exit by the year end. As both the buyers’ bodies decide to move ahead handing over the responsibilities to the Remediation Coordination Cell (RCC) – a domestic entity formed through the collaboration of the Government, the BGMEA and the BKMEA, with technical support from ILO – it gives me immense pleasure to note the sector’s mercurial progress in terms of achieving workplace safety, and more so its willingness and determination to carry forward the good work on its own. Today, Bangladesh garment industry is an epitome of safety and security, setting new benchmarks for others to emulate. EDITORIAL TEAM EDITOR-IN-CHIEF Deepak Mohindra EDITOR Ila Saxena A keen observer of the industry, I have been a witness to the tragic Rana Plaza incident and the havoc it wreaked on the apparel sector and the very image of the country. Thanks to the entrepreneurial spirit of the Bangladeshi businessmen, the Government support and the good work put up by the stakeholders, the country has not only been able to successfully rise from the Rana Plaza catastrophe but has also won back the confidence of the global buyers, all of whom are today sourcing from the country, thereby making it the second biggest apparel exporter globally. DEPUTY EDITOR Deepankar Shyam COPY EDITOR Veereshwar Sobti ASST. COPY EDITOR Sahil Sehgal SUB EDITOR Priyanka Mishra CREATIVE TEAM Raj Kumar Chahal Peeush Jauhari Satyapal Bisht PHOTO EDITOR Gaurav Naroola OPERATION DIRECTOR Mayank Mohindra The results are here to see! Bangladesh in FY 2017-18 posted an overall growth of 8.76 per cent on a year-on- year basis, exceeding the strategic export target of US $ 30.1 billion by 1.51 per cent already. PUBLISHER & Renu Mohindra MANAGING DIRECTOR [phone], 01964874405 [email protected] However, despite the glorious run, the upcoming general elections, which in all probability would be peaceful, the country’s likely graduation from LDC to a developing nation by 2024, and the ongoing protests by the worker’s union demanding per month Taka 16,000 as minimum wage, I feel could slow down the sector’s growth, if not dealt with cautiously. Apparel Resources Private Limited Apartment B-2, House No. 26, Road 18, Block A, Banani, Dhaka - 1213, Bangladesh Phone: [phone] Keeping the economic implications in mind, the Government has already started proactively engaging with the trading partners to make sure that the country enjoys the trade privileges for an extended period post the LDC evolution, and there is a smooth transition. The European Union (EU) on its part has reiterated its commitment to ensure tariff-free trade benefits and I hope others too follow suit. It now all boils down as to how the Government and the industry bodies handle the workers’ demand for an increased minimum wage. There’s no two ways about the fact with the cost of living going up, the workers justifiably need a hike, but it has to be through mutual consent to ensure that the industry does not end up losing its biggest advantage of cost-competitiveness, whi