Bangladesh, India can jointly boost textile business: Shahriar

Dhaka (Dec 12, 2020): Claiming India a top cotton exporting country, State Minister for Foreign Affairs M Shahriar Alam on Saturday said Bangladesh and India can jointly boost textile business in global market.

“India is our all-weather friend and as a cotton exporting country, it should be on top of our list for a win-win situation for both the countries,” Shahriar Alam said while addressing the second Bangladesh-India Cotton Fest 2020 at a hotel in the capital Dhaka today.

Salman F Rahman, private sector industry and investment affairs adviser to Prime Minister Sheikh Hasina, spoke at the function as the chief guest.

President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sheikh Fazle Fahim, President BTMA Mohammad Ali Khokon President, IBCCI Abdul Matlub Ahmad, President, ICAL (Indian Cotton Association Ltd) Mahesh Sharda and President, BCA (Bangladesh Cotton Association) Sultan Riaz Chowdhury, among others, were present at the programme.

Cotton production has been increased from 70,000 to 1,77,887 bales over the last 10 fiscal years dur to the pragmatic leadership of Prime Minister Sheikh Hasina, the junior minister said.

He, however, expressed his disappointment over the inadequate production against the domestic demand around eight million bales per year.

Bangladesh aimed to double its apparel exports over the next five years and put emphasis on the importance of maintaining quality cotton imports from its top supplier, he added.

Bangladesh is the second largest exporter of readymade garment items and the cotton stands as a lifeline for the country’s export economy, the minister said.

“We need to import over 98 percent of the cotton from around 42 countries and around 61 lakh bales of cotton were imported in the FY 2019-20. The dependency on cotton importing now warrants a proper address in cotton production and sourcing,” he said.

The second Bangladesh-India Cotton Festival 2020 was jointly organized by Bangladesh Cotton Association (BCA) in cooperation with Bangladesh Textile Mills Association (BTMA), Indian Cotton Association Ltd. (ICAL), India-Bangladesh Chamber of Commerce and Industry (IBCCI).

More than 30 Indian companies participated in the fest.