Reducing yarn imports from India by 50 per cent will help Bangladesh create 500,000 new jobs, opines Showkat Aziz Russell, President, Bangladesh Textile Mills Association (BTMA).
At a seminar titled ‘Sustainable Sourcing Seminar of Cotton,’ jointly organized by Cotton USA and BTMA, at the Basundhara Convention Centre, Russell criticized businesses that say, the halt on Indian yarn imports through land ports is negatively impacting local fabric production. These businesses do not support the growth of the domestic economy, he asserted.
Bangladesh imports clothing from India by paying a duty based on the price of the garment, not their weight, explained Russell. This proves detrimental to domestic industries, he adds.
Referring to a report from the newspaper, ‘The Hindu’ indicating 45 per cent of India’s yarn exports are directed to Bangladesh, Russell argued, Bangladeshi businesses to support policies favoring their own country, not neighboring nations.
He claimed that the previous government implemented policies that privileged neighboring countries, but Bangladesh did not receive any reciprocal benefits from India. Therefore, he argued that this import policy is no longer viable for Bangladesh.
Tracey Ann Jacobson, Chargé d'affaires, US Embassy in Bangladesh, stated, the US produces the highest quality cotton and could be a sustainable source of cotton for Bangladesh.
Ali Arsalan, the Representative for Bangladesh at the Cotton Council International (CCI), along with Daniel Wong of CCI and William Bettendorf, Regional Director for South Asia, also participated in the seminar. Other participants included Shahana Akter Kiron, Vice President - Head of Customer Engagement at Textile Genesis; Azeezur Rahman Khan, Country Development Representative for The Woolmark Company; Professor Muhammad Tausif, Technical Consultant for Cotton Council International; Zoe Keay, Vice President of Sales at Oritain; and Daren Abney, Executive Director of the US Cotton Trust Protocol. These individuals delivered seven paper presentations during the seminar.
The presentations highlighted the potential of the US cotton market, cotton technologies, market surveys, cotton tracing systems, and marketing and supply chain issues. Numerous Bangladeshi businesses and representatives from various U.S. brands attended the seminar.
The BTMA has been advocating for duty-free access to the U.S. market for garments made from US cotton, aiming to further boost this trade. While Bangladesh is a significant importer of U.S. cotton, it looks to diversify its sourcing and increase domestic cotton production.
