The most problematic sector in recent times is the ready-made garments (RMG) sector of Bangladesh, which is the backbone of our economy. This labor-intensive sector welcomed 4.5 million workers, 80% of whom were women, in the last fiscal year1. So there are about 5,000 garment factories spread across the country. 78% of our foreign earnings come from this sector2. This industry keeps our economy moving, but the industry faces numerous problems. Poor working conditions, poor industrial relations, low wages, arrogant and ruthless attitude of owners or management and lack of solid and positive initiatives by successive governments have made this industry questionable in the world market. It lost its GSP (generalized system of preferences) advantage in the US market, creating an image crisis for the sector. This concerns the fear of losing the GSP advantage also in the EU market. To save job creation and one of the highest foreign exchange earning sectors, BGMEA, BKMEA and the government should adopt an integrated approach on one hand and strengthen the image of this sector on the other. Keywords: Bangladesh Readymade Garment Sector, Suspension of GSP in US market, image crisis, fear of suspending GSP in EU market. Problem Statement: Now the most pertinent issue in the economic arena is the suspension of the GSP program. Why did the United States suspend the GSP program on June 27, 2013? Bangladesh benefited from GSP in the US market, excluding ready-made garments. It faces a decline in exports of around $40 million to the US market. However, the direct impact would not be much less than 1% of Bangladesh's $5 billion in annual exports (mostly RMG products) to the United States, which fall under Washington's GSP program. Working Paper Series, 17 May 2013.12. Ibid.13. Hossain Md. Forhad, Bangladesh in GSP Review, http://topnewswiki.blogspot.com, accessed 28 February 1014.14. The Independent, 12 July 201315. Tasin, Faria SPG cut and its consequences, The Daily Star, 4 July 2013.16. Dunn JD and M. Rachel Faruk, Wage and Salary Administration: Total Compensation System, McGrow Hill Book Company, 1971, USA, pp.18.17. Shahriar Asif, http://news.prio.com, accessed February 18, 2014.18. Hasim Bin Mustofa, Bangladesh wants to recover GSP if there is no politics, http://news.prio.com, accessed 13 February 2014.19. Faruk Omar, Cancellation of GSP to destroy Bangladesh economy, London-based Eurobangla weekly, 13 July 2013.20. Bangladesh Statistical Yearbook, 2012, Government of Bangladesh, P.266.21. Tasin, Faria cut of the GSP and its consequences, Ibid.