Home / Knowledge / News / Apparel/Garments / Proposed India-EU FTA upsets Bangladesh RMG exporters
Proposed India-EU FTA upsets Bangladesh RMG exporters
26
Oct '12
Increasing possibilities of a free trade agreement (FTA) between India and the EU is upsetting Bangladeshi readymade garment (RMG) exporters, who are already grappling against difficulties posed by Eurozone crisis and troubles in US economy.
 
If FTA negotiations between India and EU turn out to be successful, Indian apparels would gain preferential access to the EU markets under the generalized system of preferences (GSP), just like Bangladesh. 
 
The GSP scheme facilitates preferential entry of a wide range of industrial products produced in some of the developing countries, to the EU markets. The preferential access is generally in the form of zero or reduced customs tariff rates.
 
The negotiations between India and the EU are currently in final stages, and are likely to conclude by end of current year or early 2013.
 
The successful completion of negotiations between EU and India would increase competition for Bangladesh, which has EU as its biggest apparel export market, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President M Shafiul Islam Mohiuddin said, while speaking at a press conference.
 
Though Mr. Mohiuddin said they are not much bothered about India gaining GSP status, they certainly would have to initiate steps to counter the challenge of enhanced competition.
 
The country needs to focus on addressing infrastructural issues, like that of power and gas supply, he added.
 
Further, Mr. Mohiuddin said lifting of the trade ban levied on Myanmar by the EU and the US also poses a threat to Bangladeshi apparel exporters, as Myanmar with immense energy resources would emerge as a big competitor of Bangladesh in times to come.
 
He said it is time for Bangladesh to seriously ponder on the issues and initiate measures to counter challenges coming its way.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

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

Sonam & Paras Modi
SVA

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search