The supportive policies of the government have boosted investment in Bangladesh’s primary textile sector to $12 billion, says Mohammad Ali Khokon, President, Bangladesh Textile Mills Association (BTMA). He also noted the contribution of textile and clothing in total export revenue was 82 per cent.
In FY 2020-21, Bangladesh earned $38.35 billion in export revenues of which textile and clothing export was $31.45 billion, Khokon said while addressing a program arranged by Cotton Council International, US and Bangladesh Cotton Association (BCA) marking World Cotton Day 2021.
The sector is helping the country to retain foreign exchange and enriching the foreign reserve as well, he added.
Khokon said in fiscal year 2020-21, Bangladesh imported 8.2 million bales of cotton. He further said the cotton import from the US is expected to increase to 14% in the coming year. He also requested US Ambassador to Bangladesh Earl R Miller and Brazil Ambassador to Bangladesh Joao Tabajara de Oliveira Junior to press their governments to increase cotton export to Bangladesh.