Home / Knowledge / News / Apparel/Garments / Bangladesh pitches for GSP facility with Russia
Bangladesh pitches for GSP facility with Russia
Sep '12
Bangladesh, counted among the least developed countries of the world, is exerting to get the generalized system of preference (GSP) facility for its goods, especially readymade garments (RMG), in Russia resumed by next year.
The Government of Bangladesh is trying hard for resumption of GSP facility with Russia by 2013, Dr. SM Saiful Huq, Bangladeshi ambassador to Russian Federation told reporters at the ongoing textile fair in Moscow.
Bangladesh enjoyed GSP facility in Russia till 1997.
Russia’s becoming a member of the World Trade Organization (WTO) in August 2012 has already brought down the duty paid by Bangladeshi garment exporters from 3 percent to 0.7 percent.
The resumption of GSP facility would allow Bangladeshi firms to export their clothing items at zero-duty to the world’s 10th biggest economy.
However, exporters will have to continue paying 18 percent value-added tax, even if the GSP is allowed.
The Russian apparel market is pegged at US$ 6.5 billion and Bangladeshi clothing exporters are looking forward to get a big share, following the slump in European orders due to debt crisis there.
During Bangladeshi fiscal 2011-12 that ended on June 30, 2012, the South Asian country exported RMG worth US$ 183 million to Russia, registering a growth of 90 percent year-on-year.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search