Bangladesh hopes to import cotton from the United States duty-free
According to a report by Bangladesh’s “Business Standard” on January 20, Bangladesh Commerce Minister Tipu Munshi spoke at the 4th Bangladesh 2023 Global Cotton Summit (January 20 ) emphasized that on the one hand, Bangladesh is the world’s second largest exporter of ready-made garments and imports large amounts of cotton from different countries every year. On the other hand, the United States is the largest cotton exporter and the largest export market for Bangladesh’s ready-made garments. Bangladesh’s garment industry requires 9 million bales of raw cotton every year, and the domestic annual output is only 150,000 bales, accounting for about 1.6% of the total demand. If the United States approves duty-free measures for Bangladeshi cotton imports from the United States, the Bangladeshi garment industry will benefit.
Charge d’Affaires of the US Embassy Helen La Fave and High Commissioner of the Australian Embassy Jeremy Bruer attended the above activities.
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