HSBC, Serai, BKMEA hold apparel talk

Staff Correspondent | Published: 19:22, Feb 24,2021


The Hongkong and Shanghai Banking Corporation Limited, Serai Limited and Bangladesh Knitwear Manufacturers and Exporters Association hosted a webinar on how the readymade garments exporting business in Bangladesh can grow and manage risk in 2021.

The event was held on February 23.

The discussants focused on the country’s apparel industry, global apparel buyers, demand landscape, associated risks and collaboration using digital technology.

The webinar was attended by local exporters of readymade garments, HSBC customers, regulators, business owners and officials from different countries as well as host organisations.

The Bangladeshi apparel industry now emphasises the importance of managing risk based on the lessons learnt from the COVID-19 pandemic.

Order cancellations, reduced order volumes, extended payment terms and shipping delays left many in the industry in a situation of financial uncertainty.

It has 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, said a press release on Wednesday.

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.

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.

The platform allows industry participants to share relevant data in a highly secure manner with their partners and access a range of digitals solutions.

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