Bangladesh: Import Textile Machinery Reached 4 Billion 500 Million Taka In July.
Bangladesh's 2008-09 fiscal year budget stipulates that the main machinery import tariff will be reduced from 5% to 3%, while simplification of import procedures will facilitate the import of machinery products.
According to Meng Textile Industry Association estimates, in July Meng imported textile machinery (mainly spinning machines) 175 units, amounting to 4 billion 500 million Tucca.
It is reported that the sharp appreciation of the RMB against the US dollar has stimulated the rapid development of the textile industry. Many textile mills and garment factories have increased machinery imports to expand their production capacity.
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