Bangladesh is likely to suffer a loss in its readymade garments (RMG) trade with Turkey, as the latter has refused to roll back the safeguard duty levied on import of apparels produced in Bangladesh.
Since September 2011, Turkey has subjected RMG imports from least developed countries, including Bangladesh, to a safeguard levy of 17 percent.
Bangladeshi industry experts apprehend that if Turkey adheres to its decision, it may cause Bangladesh's annual RMG exports to Turkey to dip by over 50 percent to US$ 150 million to US$ 200 million.
The Bangladesh Government has been urging the Turkish Government to roll back the duty for quite some time.
Bangladesh's RMG exports, comprising knitwear and woven garments, to Turkey dropped to US$ 99.92 million during the first quarter of current fiscal, compared to exports worth US$ 118.03 million clocked during the same period of previous fiscal.
Fibre2fashion News Desk - India
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