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

Textiles | On 26th Sep 2016

Azerbaijan pins hope on revival of cotton sector

In the midst of economic problems, Azerbaijan president Ilham Aliyev...

Courtesy: Stenn International

Apparel/Garments | On 26th Sep 2016

Stenn debuts new $300mn fund for SE Asian suppliers

UK trade financer Stenn International has unveiled a $300 million...

Textiles | On 26th Sep 2016

Aleph unveils new LaForte wide format inkjet printers

Aleph, developer of a complete range of innovative digital printing...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

Nitin Soni
Dolphin Jingwei Machines

Kamlesh Vaghela
RK Textiles

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

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

Kevin Nelson
TissueGen

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search