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US looking to export more cotton to Bangladesh

  

The United States is looking to increase its cotton exports to Bangladesh. To strengthen US foothold in Bangladesh's market, US exporters and their representatives put an emphasis on resolving issues, such as the obligation to fumigate US cotton after imports, not being able to send cotton-laden ships directly to Bangladesh in the absence of a deep seaport, a hike in shipping costs and other logistics costs. A three-member delegation from Cotton Council International (CCI), a non-profit trade platform that promotes US cotton, is currently visiting Bangladesh as part of the country's effort to further increase the US cotton export to Bangladesh.

Bangladesh is the world’s second largest importer of cotton, a key clothing raw material. The country would like US-cotton made garments to be given duty-free access to Bangladesh’s markets. US exporters have been asked to send cotton directly from transshipment ports, such as Sri Lanka, Malaysia or Singapore, so that shipments can reach within 30 days.

Bangladesh’s spinning industry is heavily dependent on imported cotton. Many factories are now making new investments in setting up spinning facilities because of growing demand for yarns in Bangladesh, leading to the inclusion of about two million new spindles to the existing production capacity in the next two years. So the country will have to import an additional two million bales of cotton. Mills and manufacturers in Bangladesh trust US cotton because of its quality, sustainability, transparency, innovation and value. Meanwhile, as per BTMA President Mohammad Ali Khokon, they have unofficially demanded that US-cotton made garments be given duty-free access to the country's market.

 
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