Apparel exporters welcome decision on yarn import
Sunday, 16 May 2010
FE Report
Apparel manufacturers Saturday welcomed the government decision to withdraw the ban on yarn import through Benapole land port, saying that the move would help stabilise the price of yarn in the local market.
"We welcome the government move to open the Benapole land port for yarn import", the apex trade body of the apparel manufacturers Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said in a press release.
"The move would help rationalise the demand and prices of yarn in the local market through import of cheap Indian yarn by land routes," BGMEA said.
Earlier on Friday, the government withdrew the ban on yarn import through Benapole land port in a bid to help bring down the price of the textile raw material.
According to official sources the ban was removed in response to the demand of local handloom owners and weavers following the price surge of yarn in the local market.
BGMEA for some weeks has been demanding permission to import yarn through Benapole port following dramatic rise in yarn prices.
However, the trade body of the apparel manufacturers has also asked the government to safeguard the interest of the local spinning and textile mills against the backdrop of the new move.
"The decision should not affect the local spinning mills which have seen rapid flow of investment in recent years and they are also a major supplier of yarn to the garments industries"- BGMEA authority said.
Apparel manufacturers Saturday welcomed the government decision to withdraw the ban on yarn import through Benapole land port, saying that the move would help stabilise the price of yarn in the local market.
"We welcome the government move to open the Benapole land port for yarn import", the apex trade body of the apparel manufacturers Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said in a press release.
"The move would help rationalise the demand and prices of yarn in the local market through import of cheap Indian yarn by land routes," BGMEA said.
Earlier on Friday, the government withdrew the ban on yarn import through Benapole land port in a bid to help bring down the price of the textile raw material.
According to official sources the ban was removed in response to the demand of local handloom owners and weavers following the price surge of yarn in the local market.
BGMEA for some weeks has been demanding permission to import yarn through Benapole port following dramatic rise in yarn prices.
However, the trade body of the apparel manufacturers has also asked the government to safeguard the interest of the local spinning and textile mills against the backdrop of the new move.
"The decision should not affect the local spinning mills which have seen rapid flow of investment in recent years and they are also a major supplier of yarn to the garments industries"- BGMEA authority said.