Serai, the digital B2B platform by HSBC that makes global trade easier, recently ran a two-day virtual event that allowed Bangladeshi RMG manufacturers to showcase new technologies and products to interested global buyers.
The interactive event, titled 'Your new sourcing destination, Bangladesh', was participated in by 14 Bangladeshi suppliers, presenting their products to over 30 international buyers and brands from Asia, Europe, Australia and North America, said a press release.
"Bangladesh is a key market for Serai and we believe in the potential of its RMG sector. COVID-19 has made it tough for local suppliers to connect with international buyers. This intimate and closed-door event is just one example of how Serai connects buyers, brands, suppliers and manufacturers globally to grow their business. Here, we provided a platform for Bangladeshi suppliers to showcase their latest products to buyers that are ready to do business," said Vivek Ramachandran, chief executive officer, Serai.
Registered buyers who are on Serai from countries including Australia, New Zealand, South Korea, United Kingdom, Germany, United States, Peru, and Hong Kong attended the event, with the objective to source for quality products from new markets.
"International buyers are looking for companies like us to connect with. Being able to showcase our products and potential of adding value to these brands have taken us one step closer in capturing a larger share of the global RMG market, especially in markets that we don't traditionally supply to," said Khaja Mynuddin Farhad, Managing Director, Farkantex Ltd, a manufacturer of woven garments based in the Chittagong Export Processing Zone (CEPZ) in Bangladesh.
One such buyer was Lynda Ellis, Director of Continental Textiles, a leading creator and distributor of wholesale ladies & men's loungewear, clothing, beachwear and accessories, based in the United Kingdom.
"We're always looking to expand our portfolio of suppliers to work with so the variety presented during this sourcing event was great. Bangladesh has a lot to offer in terms of quality and a range of apparel goods. We are already in talks with some of the suppliers we met during the event and look forward to building closer relationships with the industry in Bangladesh," said Lynda.
Serai has amassed over 600 Bangladeshi apparel companies on its platform, including major manufacturers like FCI group, DBL group and Envoy Textiles. In total, the platform boasts over 3000 companies from over 60 countries including buyers from Australia, USA, UK and other European countries which heavily rely on RMG imports.
Manufacturers using Serai can easily show off their strengths and showcase their facilities, certifications, compliances and range of products to potential buyers. Building an online profile for suppliers to connecting with buyers and brands worldwide is completely free.
Serai also offers solutions to help businesses trace their supply chain from end-to-end and manage counter-party risk. Their recently launched traceability solution allows apparel businesses to trace the order flow throughout the supply chain, potentially manage supply chain risks and collect data for compliance needs. Additionally, counterparty risk management solutions provided by the platform allows users to conduct a thorough counterparty risk assessment: from obtaining financial, market and credit research, to risk prevention, monitoring and protection services.