Bangladesh wants ‘quota’ in Indian cotton exportOctober 22nd, 2010 - 1:00 pm ICT by IANS
Dhaka, Oct 22 (IANS) Bangladesh will demand a separate quota in India’s export of raw cotton to ensure adequate supply for its garment sector, the prime foreign exchange earner of the country, in view of rising prices.
“We’ll demand a separate quota for raw cotton during the bilateral trade talks with India,” the Daily Star newspaper Friday quoted Commerce Minister Faruk Khan as saying.
Khan is currently in New Delhi leading a 23-member business delegation.
The cotton price has reached its all-time high up to $1.19 a pound in the international market this month, which troubles Bangladesh and China — the two countries that depend on cotton imports for their textile industries.
Bangladesh textile industry experts say that crop damage by floods in Pakistan, the world’s fourth largest cotton producing country, and a restriction put by the Indian government on its cotton exports have led to the price spiral.
Khan said Bangladesh wants to settle the cotton supply issue with India so that the country remains ‘immune’ to any Indian ban on the commodity’s export, the newspaper said.
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Tags: adequate supply, bilateral trade, business delegation, commerce minister, cotton exports, cotton imports, cotton price, crop damage, daily star, exchange earner, faruk, floods in pakistan, garment sector, indian cotton, indian government, member business, raw cotton, textile industries, textile industry, trade talks