BM Report:
Opportunities for increased trade between Bangladesh and the United States were highlighted at a program organized by Cotton USA on Thursday in Dhaka. The event, held in observance of Cotton Day, brought together key stakeholders from the textile and apparel industries of both nations.
Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), emphasized the potential for growing trade ties, particularly in the cotton sector. He noted that the recent removal of the mandatory double fumigation rule on U.S. cotton imports by Bangladesh has facilitated smoother trade and reduced costs for Bangladeshi garment exporters.
President Hassan further proposed granting duty-free access for garments made from U.S.-imported cotton, which would incentivize Bangladeshi exporters to source more cotton from the US. This, he explained, would create a “win-win situation” for both countries, benefiting U.S. cotton growers and suppliers while providing American consumers with access to high-quality apparel.
Peter D. Haas, Ambassador of the USA to Bangladesh, also addressed the event, expressing support for strengthening bilateral trade ties. He acknowledged the significance of Bangladesh as the world’s second-largest cotton importer, highlighting the strategic importance of collaborative efforts in this sector.
Other speakers, including Ali Arsalan (Cotton Council International Representative for Bangladesh) and Mohammad Ali Khokon (President of the Bangladesh Textile Mills Association), echoed the sentiment of fostering closer cooperation. They emphasized the potential for mutual economic growth and prosperity through increased trade and investment between Bangladesh and the United States.
The Cotton Day event served as a platform to explore opportunities and strengthen ties between the two nations in the textile and apparel sectors. With a focus on collaboration and mutual benefit, the discussions offer promise for a brighter future for Bangladesh-US trade relations.
