Bangladesh and India see huge prospect in enhancing bilateral trade, especially in the ready-made garment and textile sector through collaboration between the governments and business interactions between the traders of both countries, said Faruque Hassan, President of BGMEA.
“With growing middle-class population India is a highly potential market for Bangladesh’s RMG exports and we have witnessed significant growth in recent times. Bangladesh is also a promising market for Indian cotton, man-made fibres, dyes, chemicals and other raw materials,” he said.
“Hence, we see apparel and textile are potential sector to complement each other and get reciprocal benefits,” he further commented.
He made the remarks while exchanging views with a delegation of the Cotton Textiles Export Promotion Council (TEXPROCIL) at BGMEA Complex on 04 March 2023.
The delegation led by TEXPROCIL Chairman Sunil Patwari paid the visit to BGMEA President Faruque Hassan to discuss challenges and opportunities to pave the way to more trade between the two neighboring countries.
Chair of BGMEA Standing Committee on Trade Fair Kamal Uddin, Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim, TEXPROCIL Executive Director Dr. Siddhartha Rajagopal and Joint Director Murali Balkrishna were also present at the meeting.
In the meeting, BGMEA President Faruque Hassan stressed the need for facilitating more business interactions between the apparel and textile exporters of Bangladesh and India to explore opportunities, thus meeting mutual needs.
He also called on the governments to remove trade barriers and build adequate infrastructure and transport facilities in land ports to accommodate increased transportation demand.
Faruque Hassan thanked the government of Bangladesh for allowing apparel exporters to import yarns from India in partial shipment through Benapole, Bhomra, Sonamasjid and Banglabandha land ports.
Earlier, RMG exporters could import yarn through the Benapole land port under the bonded warehouse facility but they were not allowed partial shipment.
In the meeting BGMEA and TEXPROCIL agreed to collaborate in paving the way for more business between Bangladesh and India.