At a seminar organized by the Bangladesh Cotton Association (BCA) and Cotton Council International (CCI) to celebrate ‘World Cotton Day’ in Dhaka, Bangladesh local spinners urged authorities to address barriers in cotton imports from the US to smoothen supply. The spinners also urged for a duty concession on RMG products made from US cotton to enhance the bilateral trade, said Mohammad Ali Khokon, President, BTMA.
Terming the US as one of the major export destinations of Bangladesh RMG, Khokon said, while there is a lot of potential to enhance trade between Bangladesh and the US, the existing tariff structure to enter the US market of its RMG products is comparatively high. He urged the US government to provide some concession for RMG products from Bangladesh made with US cotton and added this will be a win-win situation for both countries. He also requested Miller to raise the issue with US government with high emphasis.
The World Cotton Day was launched by the World Trade Organization (WTO) in 2019 while the United Nations General Assembly officially recognized October 07 as World Cotton Day on August 30 last year.