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

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

October 2016

October 2016

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


Browse Our Archives


Advanced Search