The Hongkong and Shanghai Banking Corporation Limited (HSBC), Serai Limited and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) held a virtual meeting on Tuesday to discuss ways to grow Bangladesh's readymade garments exports and manage risks in 2021.
Bangladesh's apparel industry, global apparel buyers, demand landscape, associated risks and collaboration using digital technology were some of the issues discussed in the meeting, according to a press release on Wednesday.
Local exporters of readymade garments, HSBC customers, regulators, business owners and officials from different countries as well as host organisations also participated in the programme, it added.
In the wake of 2020 and the lessons learnt from the Covid-19 pandemic, the Bangladeshi apparel industry now emphasises the importance of managing risk.
Order cancellations, reduced order volumes, extended payment terms and shipping delays left many in the industry in a situation of financial uncertainty. It's become essential for apparel businesses to have an effective risk management framework. To address these challenges, the webinar discussed the importance of monitoring and managing risk and how Bangladeshi manufacturers can reduce such risks.
The key speakers of the programme were Vivek Ramachandran, CEO, Serai Limited, Kevin Green, country head of Wholesale Banking, HSBC Bangladesh and Mohammad Hatem, Senior Vice President, BKMEA. There were also a question and answer session at the end.
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa.
Serai is a technology subsidiary of HSBC. It is a platform that brings together buyers and suppliers to build trusted relationships, with an initial focus on the garment and apparel industry.