Terry towel and home textile manufacturers lobbied the government to allow yarn imports to assist the sector develop and capitalize on growing worldwide demand amid the Covid-19 epidemic.
They noted that the nation has a good chance of increasing its home textile, terry towel, and knitwear exports, particularly to the European Union, now that the latter is allegedly poised to remove its GSP Plus facility for Pakistan, one of Bangladesh’s competitors.
The Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA) submitted the request in separate letters signed by its chairman to the National Board of Revenue and the Ministry of Finance on Monday.
The BTTLMEA, a trade-body of 113 mills – producing terry towel, home textile and allied products, has requested the government to allow its member factories import 6.0-20 counts yarn. The association is largely dependent on domestic supply of yarn, and they source almost 70 per cent of their required demand of yarn from the local millers. Industry insiders said export of the sector could reach $5.0 billion within a few years, provided with required policy support and a business-friendly environment. Due to the coronavirus outbreak across the globe, use of knitwear and towel items increased significantly, as the pandemic forced people to stay at home, they said.
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