A new online platform has emerged for the apparel sector of Bangladesh.
"Merchant Bay," a sourcing and order management platform through which buyers and suppliers can connect and trade online, was launched on Saturday.
This online B2B (business-to-business) platform works on trade digitisation, sourcing digitisation, and production monitoring, reads a press release.
The need for technological innovation in the apparel sector is crucial now.
So, the platform wants to ensure the digitisation of the supply chain by making sourcing easier for both the producers and the buyers.
It wants to play an effective part in developing the skills and capabilities of the apparel sector through digital trade solutions.
The platform already has a database of more than a thousand suppliers, which includes a total of 500 plus types of products in 22 categories.
Bangladesh Garment Manufacturers and Exporters Association President Dr Rubana Huq and former Federation of Bangladesh Chambers of Commerce and Industries president Shafiul Islam Mohiuddin were present at Merchant Bay's launching programme.
Sayem Group President Md Monir Hossain and Abrar Hossain Sayem, director of the Group and managing director of Merchant Bay, also joined the event.
Speaking as the chief guest, Posts and Telecommunications Minister Mustafa Jabbar said, "I hope, through this platform, our traders will be able to contribute more to the country's export by communicating with foreign buyers very easily."
Shafiul Islam said, "Merchant Bay's e-B2B platform will make sourcing easier for both the factory and the buyer. It will be affordable for both as well. And any manager can run his factory more efficiently using the monitoring system the platform has."
Rubana Huq said using the platform traders can communicate with foreign buyers very easily. "As Covid-19 is changing buyers' behaviour, I believe this platform will be very effective for everyone related to the apparel sector."
Merchant Bay will primarily work to create and verify digital profiles of Bangladeshi apparel makers and connect those to the global buyers.