Dhaka : Bangladesh’s garment sector is likely to face difficulties following shortage of cotton as India, the region’s largest producer of the item, has imposed a ban on its export, which Bangladesh government termed as “unfortunate”.
Bangladesh’s Commerce Secretary M. Ghulam Hossain at a news conference Thursday said repeated restriction on export of cotton is posing a threat to the garment sector of Bangladesh, which fetches 76 percent of the total export earnings of the country, reported Xinhua.
“India banned on export of cotton leaving aside trade rules and regulations. We think it is against the norms of international trade,” Hossain told the newsmen at the hurriedly called press conference.
The Indian government imposed the ban on Monday, citing reasons that it is building up its domestic stock amid fears of a low yield this year, according to the officials of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), who were present at the press conference.
Hossain said his ministry condemned the move of Indian government and has written to the Indian authorities for withdrawing the ban immediately.
“The Indian government has been urged to take steps to release all agreements regarding cotton,” Hossain added.
Hossain however said India’s ban would not hurt the local textile industry as the commerce ministry is keeping an eye on the world market where production is good this year and price is low.
He also said they are looking for other sources, such as Australia, Uzbekistan and the US.
He said a high-level delegation led by the commerce minister will go to Uzbekistan early next month to explore the possibility of importing cotton from the country.