Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the duty free access of 46 Bangladeshi garment items to Indian market is a big diplomatic success of Prime Minister Sheikh Hasina and Commerce Minister Faruk Khan. The trade body also wants its effective implementation.

 

BGMEA president Shafiul Islam Mohiuddin said this while addressing a press conference at its conference room Monday.

 

Shafiul Islam Mohiuddin said, India already has allowed Bangladesh to export 10 million pieces of garment items to its market under the framework of South Asian Free Trade Agreement (SAPTA).

 

He said, the two- way trade between the two neighbours on garment items will be increased significantly following the Indian government's decision.

 

"If Bangladesh is allowed duty and quota free access of all products of sensitive list in India, it will not only promote the trade relations but also reduce the trade deficit between the two countries significantly, he added."

 

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president AK Azad, BKMEA (Bangladesh Knitwear Manufacturers and Exporters Association) president AKM Selim Osman and BTMA (Bangladesh Textile Mills Association) president Jahangir Alamin were present in the press conference.

 

AK azad said, "We are hopeful that India will withdraw tariff and non-tariff barriers from 61 items. We urged the Indian government to withdraw barrier to at least 100 items to increase Bangladesh exports to the neighbouring country, he added".

 

He said garment sector of Bangladesh has a potential to catch the market of US$ 28 billion in India.

 

If Bangladesh can pick up only 10 per cent of the Indian market, our export earnings from India will increase by $ 3 billion which is a big amount," he said.

 

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) president Salim Osman said, the historic step will open up a new era of opportunity for Bangladeshi garment exports to India that would massively help the country grab a significant portion of apparel markets there.

 

The RMG items which will go to the Indian market are T- shirt, knitted trouser, jersey, pullover, cardigan, hand socks, undergarment and singlet, the BKMEA chief said.

 

Source : The Financial Express