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Bangladeshi textile millers worried of imported yarn

Aug 24, 2021
Bangladeshi textile millers worried of imported yarn

Bangladesh

Bangladeshi textile millers are worried because of the new proposal that has been brought forward by apparel manufacturers for importing cotton, fabrics, yarn, and other raw materials through land ports

According to the Industry Insiders, the domestic textile mills of the country will be affected adversely if they allowed the import of yarn through land ports and also if they give the permission for partial shipment of the apparel industry's raw material under the same letters of credit (LCs).

The leaders of the Bangladesh Textile Mills Association (BTMA) conducted a meeting with the stakeholders and talked about this new dilemma. According to Fazlul Haque, Vice President, BTMA, the import of raw materials for apparel is going on through Benapole port and there is no need to ask for import permission through new ports. He further said that if this decision is taken, the domestic industry will be impacted and a hefty amount of yarn will enter the country under false declaration.

He further said that the matter has been discussed within the team and the government is well-informed about the consequences that the local industry will have to face in case the imports of yarn are allowed through the land ports. It is also believed that the established local textile mills that received investment for expansion and sustainability will incur losses.

Source – Dhaka Tribune

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