Soaring Textile Imports Triggered Panic In Local Textile Mills In Bangladesh

In the European Union

After importing tariff free materials into the EU market, the import of Bangladesh fabrics increased sharply in the first 6 months of 2011.

Production fabric

The textile business owners were panic stricken about the soaring import fabric. They said the import figures had already explained the problem. Since the EU relaxed the import rules in January 1st, they felt the pain.

Customs officials say they are still sorting out the data of their fabrics imported by their clothing exporters in the first six months of this year.

But they said that between January and June, the value of fabric importers imported from China alone exceeded 730 million Taka, an increase of 130 million Tucca compared with the same period last year.

Another customs official said: "our clothing exporters import fabrics from all countries, including China, India, Vietnam, Thailand, Turkey and even Italy."

Import of textile fabrics

The sudden increase has made textile owners miserable. They have invested more than 300 million Taka, but they think their future is bleak.

The textile factory said that the European Union's protective cover expired in December 31, 2010, so domestic entrepreneurs set up 380 home textile mills and 400 weaving factories and 260 dyeing factories.

They invest 300 million Taka to build a huge backbone of the garment industry.

Now, the latest EU rules become a serious threat to the survival of enterprises in the future.

Last year, the local textile mill produced 1 billion 700 million kilograms of cotton yarn, 2 billion meters of fabric, and nearly 2 billion meters dyed and finished products to meet the needs of exporters 80%.

The industry urged the prime minister and finance minister to raise the existing 5% cash award to 15%.