“India has become the single largest source of cotton import for Bangladesh due to quick shipment, better quality, price competitiveness and settlement of dispute in a relaxed manner,” Tapan Choudhury, president of BTMA said in a media briefing prior to the Bangladesh India Cotton Fest 2016 to be held on 12 March at Dhaka.
Bangladesh imported around 6 million bales of cotton in 2015, out of which approximately 3 million bales were imported from India. In 2014, the country imported around 5.8 million bales of cotton in total. Approximately 2.92 million bales were from India.
Talking about the fest, Choudhury expressed confidence in the fest further enhancing trade relations between the two countries by providing the cotton buyers and sellers a platform to meet. It will also ensure uninterrupted cotton supply to Bangladesh.
The fest will also play a role in dispute settlements between the buyers and sellers of the two countries.
The event is supported by the two major trade bodies – Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and India-Bangladesh Chamber of Commerce and Industry (IBCCI).
It will also enable them improve their supply chain with trust and reliability.(MCJ)
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