The Bangladesh Textile Mills Association (BTMA) on Wednesday called for the speedy implementation of duty-free market access provisions under a trade agreement covering apparel manufactured with US cotton and man-made fibres (MMF).
BTMA President Showkat Aziz Russel made the call during a meeting with a delegation from the US Embassy in Dhaka at the association’s Gulshan office.
The US delegation included Eric Gillan, Political-Economic Counsellor; Erin Covert, Agricultural Attaché; and Charles Besnard, Political-Economic Officer at the US Embassy in Dhaka.
BTMA directors Chowdhury Md Hanif Shoaib, Syed Ishtiaq Ahmed, Mirza Ahmed Ispahani and Rubayet Haider, as well as former directors Md Masud Rana and Rajib Haider, among others, were present at the meeting.
Highlighting the association’s contribution to the sustainable development of Bangladesh’s primary textile industry, global competitiveness and export growth in the post-LDC period, Mr Russel said BTMA has been playing a vital role as a major backwards-linkage industry for the country’s textile and ready-made garment (RMG) sector.
During the meeting, he stressed the need for the prompt implementation of Article 5.3 of the trade agreement signed to further expand trade cooperation between Bangladesh and the United States.
BTMA leaders noted that under the provision, duty-free benefits are available for exports to the United States of ready-made garments manufactured in Bangladesh using US cotton and man-made fibres.
They said implementation of the provision would strengthen the competitiveness of Bangladeshi exporters in the international market while significantly increasing exports of US cotton and man-made fibres to Bangladesh, creating mutual benefits for both countries.
However, the BTMA president said there had been no visible progress on the issue since the agreement was signed, creating concern and uncertainty among entrepreneurs.
He sought US cooperation in ensuring the speedy implementation of Article 5.3, finalisation of the relevant rules of origin and tangible progress in this regard.
During the meeting, both sides exchanged views on expanding trade and investment cooperation between Bangladesh and the United States, strengthening partnerships in the textile and related industries, increasing the use of US cotton and other issues of mutual interest.
The meeting also discussed the speedy implementation of the Central Bonded Warehouse system and greater access to the US market for Bangladeshi textile and apparel products manufactured using US cotton and man-made fibres.
