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

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

Mr. Subhash Bhargava
Colorant Limited

What is the current scenario for colorants and specialty chemicals in...

Sivakumar Narayanan
Uster Technologies Ltd.

How do customers react normally in cases of contaminated cotton yarn in...

Jurgen Gauger
Spreadshirt

How is the market for personalised prints on garment shaping up? What are...

Dr Geoff Collins
Lenzing Fibers (Hong Kong) Ltd

The Lenzing Group The Lenzing Group is an international group of...

Kerem Durdag
Biovation II LLC

<b><i>Kerem Durdag, CEO, Biovation II LLC, provides an insight into future ...

Mr SS Iyer
Zenith Fibres Ltd

Mr SS Iyer, currently President of Zenith Fibres Ltd, graduated in...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search