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Ministry Of Commerce: GSP For American Cotton Will Increase Bangladesh'S Garment Export
According to the Bangladesh Financial Express on September 26, Bangladesh recently exempted the compulsory fumigation requirement for American cotton imports, and is negotiating with the United States on duty-free clothing made of American cotton. Bangladesh has repeatedly asked the United States to reduce the import tariff of 15.62% on such clothing. Experts predict that if Bangladesh and the United States reach the agreement, it will not only increase Bangladesh's clothing export revenue by 800 million dollars every year, but also import US cotton worth 3 billion dollars in five to seven years. Bangladesh needs 9 million bales of cotton every year, 98% of which is imported.
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