BTMA urges EU to extend RoO by five years more
Tuesday, 11 December 2007
FE Report
Leaders of the Bangladesh Textile Mills Association (BTMA) has urged European Union (EU) Ambassador to Bangladesh Dr Stefan Frowein to extend the rules of origin (RoO) facilities by another five years.
The appeal was made at a meeting held at the BTMA conference room Monday in the city. It was organised in the wake of the EU's move to revise the existing RoO for the least developed countries.
BTMA Chairman Abdul Hye said the Bangladesh textiles sector should overcome its weaknesses to compete globally and an extension of the present RoO would enable it to do so.
"Our appeal to the EU is for extending the present RoO by at least five years more as we need time to further strengthen our sector," BTMA chairman added.
The European Commission is mulling over to amend the present RoO to facilitate trade, especially to all least developed countries. The new RoO is likely to have 30 per cent value addition criterion.
Currently, textile sector is enjoying two-stage RoO, which adds upto around 80 per cent value addition for the local textile sector.
The new RoO might be implemented in January 2009 if everything goes ahead as planned.
However, the EU ambassador suggested that local textiles entrepreneurs have the opportunity to lobby with the member states to change the new RoO.
"We will deliver your arguments to our headquarters. You might lobby to amend it," EU ambassador added.
He also said that his office in Dhaka will give feed back about the concern expressed by the local textiles manufacturers to its headquarters in Brussels.
BTMA vice chairmen Jahangir Al Amin, M Jamaluddin, EU trade adviser Zillul Hye Razi were, among others, present at the discussion meeting.
Leaders of the Bangladesh Textile Mills Association (BTMA) has urged European Union (EU) Ambassador to Bangladesh Dr Stefan Frowein to extend the rules of origin (RoO) facilities by another five years.
The appeal was made at a meeting held at the BTMA conference room Monday in the city. It was organised in the wake of the EU's move to revise the existing RoO for the least developed countries.
BTMA Chairman Abdul Hye said the Bangladesh textiles sector should overcome its weaknesses to compete globally and an extension of the present RoO would enable it to do so.
"Our appeal to the EU is for extending the present RoO by at least five years more as we need time to further strengthen our sector," BTMA chairman added.
The European Commission is mulling over to amend the present RoO to facilitate trade, especially to all least developed countries. The new RoO is likely to have 30 per cent value addition criterion.
Currently, textile sector is enjoying two-stage RoO, which adds upto around 80 per cent value addition for the local textile sector.
The new RoO might be implemented in January 2009 if everything goes ahead as planned.
However, the EU ambassador suggested that local textiles entrepreneurs have the opportunity to lobby with the member states to change the new RoO.
"We will deliver your arguments to our headquarters. You might lobby to amend it," EU ambassador added.
He also said that his office in Dhaka will give feed back about the concern expressed by the local textiles manufacturers to its headquarters in Brussels.
BTMA vice chairmen Jahangir Al Amin, M Jamaluddin, EU trade adviser Zillul Hye Razi were, among others, present at the discussion meeting.