India urged to lift ban on cotton export
Wednesday, 29 September 2010
High price of yarn affecting the garments sector will be brought down to a reasonable level within a week in consultation with stakeholders, assured the Commerce Minister Faruk Khan Tuesday, reports UNB.
Yarn price has sharply increased in the domestic market following rise in cotton price in the international market that put textile industry textile under severe stress.
"We'll call a meeting soon…I've already talked to Bangladesh Textile Mills Association (BTMA) President Abdul Hai Sarker in this regard. I hope we'll be able to solve the problem within seven to ten days," Khan said while talking to reporters at the Secretariat after a meeting with the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) leaders.
Faruk Khan said that the government would request the Indian government to lift ban on cotton export to Bangladesh immediately. "I've already talked to Bangladesh Ambassador in New Delhi Tuesday about it."
He also that said he was planning to go India within next few days where he would talk with relevant people about import of raw cotton.
Admitting price hike of yarn in the international market, Faruk Khan said that they would monitor price situation in the domestic market.
Earlier, a three-member team of BKMEA led by its President AKM Selim Osman met with commerce minister and expressed concern at exorbitant price hike of yarn badly affecting the textile sector.
Selim Osman said that the government assured them of taking effective steps to reduce the price.
"We're concerned over the matter…If it's not tackled the export will decline considerably," he said.
Earlier, a 9-member coordination committee was formed comprising members from the BGMEA, BKMEA and BTMA to safeguard the interest of the three associations while addressing the problems in the wake of the yarn price hike.
Yarn price has sharply increased in the domestic market following rise in cotton price in the international market that put textile industry textile under severe stress.
"We'll call a meeting soon…I've already talked to Bangladesh Textile Mills Association (BTMA) President Abdul Hai Sarker in this regard. I hope we'll be able to solve the problem within seven to ten days," Khan said while talking to reporters at the Secretariat after a meeting with the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) leaders.
Faruk Khan said that the government would request the Indian government to lift ban on cotton export to Bangladesh immediately. "I've already talked to Bangladesh Ambassador in New Delhi Tuesday about it."
He also that said he was planning to go India within next few days where he would talk with relevant people about import of raw cotton.
Admitting price hike of yarn in the international market, Faruk Khan said that they would monitor price situation in the domestic market.
Earlier, a three-member team of BKMEA led by its President AKM Selim Osman met with commerce minister and expressed concern at exorbitant price hike of yarn badly affecting the textile sector.
Selim Osman said that the government assured them of taking effective steps to reduce the price.
"We're concerned over the matter…If it's not tackled the export will decline considerably," he said.
Earlier, a 9-member coordination committee was formed comprising members from the BGMEA, BKMEA and BTMA to safeguard the interest of the three associations while addressing the problems in the wake of the yarn price hike.