Bangladesh wants more cotton from the USA to diversify its cotton sourcing destination in the world of intense competition.
For procurement of more American cotton, the leaders of Bangladesh Textile Mills Association (BTMA) want to introduce direct shipping line between the ports in the USA and Bangladesh.
Bangladesh imports cotton worth nearly $1 billion from the USA in a year as America has been turning into a good source of cotton the local millers.
Moreover, America is the single largest export destination for the country. Bangladesh has already exported more than $4 billion worth of garment items over the last six months of this fiscal year.
It is expected that the country will be able to export more than $8 billion worth of garment items at the end of this fiscal year, said Mohammad Ali Khokon, president of the BTMA at a discussion.
So the direct shipping line between Bangladesh and the USA will reduce cost of doing business and also reduce the lead time in trade, Khokon said.
Many shipping lines do not want to come to Chattogram port because of congestion and for long time in loading and unloading of goods, he said.
As a result, some shipping lines left the goods at ports in China and Malaysia, he said.
The BTMA standing committee on shipping will meet the government for proposing the direct shipping line between Bangladesh and the USA, he said.
The BTMA organised the discussion on textile sector at Golden Tulip Hotel in Dhaka last night.
