Bangladesh, Greece discuss investment in cotton sector

14 Jun '14

2 min read

Golam Mohammad, Ambassador of Bangladesh to Greece, met Greek Minister of Rural Development and Food Athanasios Tsaftaris in Athens and discussed investment in the cotton sector, according to a press release from the Greek Ministry of Rural Development and Food.

During the meeting, held last week, Mr. Mohammad and Mr. Tsaftaris discussed investment proposals on contractual farming, ginning and spinning of cotton in Greece, and subsequent export to Bangladesh.

It is estimated that the implementation of such investment proposals can create hundreds of new jobs and reopen cotton ginning and spinning plants, which remain inactive for years, in Greece.

Ambassador Mohammad mentioned that Bangladesh ranks second worldwide in production of garments, and it imports cotton in raw form for manufacturing fabrics that go into the production of apparel. He said Bangladesh imports cotton from several countries, with major suppliers being the US, India, Pakistan, Sudan and Uzbekistan.

On his part, Mr. Tsaftaris stressed on the excellent quality of Greek cotton, the support it enjoys from the EU and the uninterrupted continuation of cotton production in Greece. He added that Egypt and Turkey are the main importers of Greek cotton.

During the discussions it was agreed that Bangladesh will send a delegation of experts to Greece in order to increase cooperation and work on implementation of the proposed actions and investments.

Bangladesh business and Member of Parliament Kazi Zafarullah and Dimitris Melas, General Secretary for Rural Affairs and International Relations of the Greek Ministry of Rural Development and Food were also present at the meeting.

Fibre2fashion News Desk - India

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