Staff Correspondent:

Reduced corruption at present has provided an opportunity for energy prices, which had surged due to energy procurement deals under the previous government, to decrease, said Commerce Adviser Sheikh Bashir Uddin on Thursday (February 20).

He made the observation while addressing the inaugural ceremony of the 19th Dhaka International Textile & Garment Machinery Exhibition 2025 in Dhaka.

Bashir, also the textiles and jute adviser, said increased use of renewable energy, such as solar power, is essential to lower production costs and stabilise energy prices.

He urged enterprises to purchase solar energy at the lowest possible cost.

Referring to Akij Group’s investments in solar energy to replace gas with REB electricity, he said the group plans to generate 50% of its energy from solar power.

Regarding the post-LDC graduation scenario, the adviser noted that preferential market access would no longer be available. To remain competitive, businesses must reduce their fixed costs by any means necessary to enhance efficiency, he added.

Speaking at the event, Federation of Bangladesh Chambers of Commerce and Industry Administrator Hafizur Rahman stated that such exhibitions would be instrumental in identifying sustainable technologies to tackle industry challenges.

Bangladesh Textile Mills Association President Showkat Aziz Russell highlighted that the sector has invested $22 billion, enabling it to supply 100% of the knit garments required by export-oriented industries.

“We can invest more if the government provides a long-term forecast of gas prices and bank interest rates for the next 10 years. No investor wants to operate in uncertainty,” he added.

Akai Lin, director of Overseas Operations at Yorkers Trade & Marketing Services Co Ltd, and Fazlee Shamim Ehsan, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, also spoke at the event.

The BTMA, in partnership with Yorkers Trade & Marketing Services Co Ltd, Hong Kong, is organising the 19th DTG from 20 to 23 February at ICCB, Dhaka.

DTG 2025, Bangladesh’s largest textile machinery exhibition, will feature 1,600 stalls and over 1,100 top brands from 33 countries. Companies from China, Germany, India, Italy, Japan, South Korea, and Turkey will participate, showcasing innovations in textile machinery, fabric production, dyeing technology, and accessories.

The four-day event will include discussions, seminars, and the DTG Fashion Show, scheduled for 21-22 February in Hall 3 of ICCB.