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Turkish duties hurt Bangladeshi apparel exports
25
Oct '12
A sharp fall has been witnessed in Bangladesh’s apparel exports to Turkey during the first quarter of the current Bangladeshi fiscal that began on July 1, 2012.
 
Apparel exports from Bangladesh to Turkey during the review period dipped by 9.21 percent to US$ 90.72 million, mainly because of the protective measures introduced by Turkey.
 
Looking to safeguard domestic apparel producers, in March 2011, Turkey subjected all apparel imports from least developed countries (LDCs), including Bangladesh, to a 17 percent safeguard duty. It also increased the duty on apparels imports from developing countries to 27 percent and those from other countries to 30 percent.
 
Registering a year-on-year fall of over 13 percent, Bangladesh’s knitwear exports to Turkey dropped to US$ 37.30 million during first quarter of current fiscal, while woven exports for the period fell by 6.13 percent to US$ 53.42 percent.
 
During 2010-11, Bangladesh’s knitwear and woven items exports to Turkey climbed to SU$ 518.32 million, a whopping 69.24 rise over 2009-10’s exports of US$ 306.27 million.
 
However, as the new tariffs became applicable from July 21, 2011, it started impacting Bangladesh’s export proceeds and the country’s overall earnings from apparel exports to Turkey for 2011-12 came to US$ 355.93 million.
 

Fibre2fashion News Desk - India

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