US Ambassador (Chargé d'affaires) Tracey Ann Jacobson has expressed her optimism regarding Bangladeshi textile sector saying that the industry will grow further in near future.
“Bangladesh is now number five in the world as an importer of cotton. We project that it will be the biggest importer in the near future. It’s a tremendous opportunity to increase the number of American partners coming into Bangladesh,” Tracey Ann told a seminar on Tuesday.
The US Cotton Council organised the seminar on sustainable sourcing at International Convention City Bashundhara (ICCB) in Dhaka.
Addressing the seminar, the American diplomat mentioned that the US always stands by Bangladesh to bolster the economic and bilateral relationship.
“We promote sustainability from the American side. America is now promoting sustainability across the world. The American cotton industry has adopted the most advanced technology to produce high quality cotton” she said.
Bangladesh Textile Mills Association (BTMA) President Showkat Aziz Russell and US Ambassador (Chargé d'affaires) Tracey Ann Jacobson were chief guests at the programme.
The BTMA president said that the reciprocal tariff from the US has shown a pathway to explore opportunities for Bangladesh’s apparel industries.
“A number of 850 Bangladeshi textile mills have invested $22 billion in the sector so far. We are very much aware of good cotton. I would give American cotton ten out of ten. The import of American cotton has dropped in recent times. We are continuing discussions to overcome the situation,” he said.
He also expressed his dismay over the increased import of Indian yarn during the previous fascist Awami League government.
“India exports around 45% yarn to Bangladesh. Due to illogical policy support from the previous government, they were grabbing the market. Now, we have to work together for strengthening the local industry. All businesses should stand by national interest,” he said.
At the event, Cotton Council International Regional Director Will Bettendorf, US Cotton Trust Protocol Executive Director Daren Abney, Woolmark Company Country Development Representative Azeezur Rahman Khan, Textile Genesis Vice President Ranganathan Nadadur Sudarsanan, Oritain Vice-President Zoe Keay, Daniel Wong from Cotton Incorporated and Cotton Council Technical Consultant Prof Muhammad Tausif made presentations on respective issues on the US cotton.
Bd-pratidin English/ Afia
