The State Foreign Minister of Bangladesh Shahriar Alam has said that cooperation between Bangladesh and India can give global competitors in the textile sector a tough time as India is one of the top cotton exporting countries and Bangladesh is the second largest RMG exporter in the world.
To cater to the demand of the Ready Made Garments sector, Bangladesh depends heavily on cotton import. It is one of the top cotton importing countries in the world. Shahriar Alam said that even though cotton production in Bangladesh has increased substantially, it is still importing 98 percent of its requirement, reports the news agency UNB. He said Bangladesh’s dependency on the cotton import requires it to address the issue of cotton production and sourcing properly.
Addressing the second Bangladesh-India Cotton Fest 2020 in Dhaka on Saturday, the State Foreign Minister said that Bangladesh intends to double its export of RMG over the next 5 years for which a secure and quality cotton supply was its top priority. In this context he said that as a historic all-weather friend, India as a cotton exporting country should be on top of Bangladesh’s list for a win-win situation for both the countries.
Shahriar Alam said that India produces cotton of multiple varieties making it an important player in the world cotton market. He said India is ideally positioned to supply high quality cotton to Bangladesh at competitive prices, with lower costs of transportation and easier access to suppliers.
