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Bangladesh apparel makers want duty-free raw materials

May 07, 2021
Bangladesh apparel makers want duty-free raw materials

Dhaka, Bangladesh

The Bangladesh Textile Mills Association, Bangladesh Garment Manufacturers and Exporters Association, and Bangladesh Knitwear Manufacturers and Exporters Association have all written to the finance minister AHM Mustafa Kamal, requesting duty-free import of the raw materials needed for their industry.

They have demanded an equal 3% VAT for all kinds of yarns produced. They have further written about reducing the import duty on spare parts of all the capital machinery used by 1% when the next budget is planned for the year 2021-2022.

It is to be noted that right now, only cotton fiber is applicable for duty-free imports. Other fibers including wing cotton, Tencel, modal, spandex, and polyester all incur import taxes in the country. The letter also added that there would be newer types of fibers imported to the country owing to buyer demands and all these should be eligible for duty-free imports too.

Source: Newagebd

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