Bangladesh and India will ink a deal on promoting bilateral cooperation in the textiles sector.
The Indian High Commission in Dhaka on Friday said a Memorandum of Understanding (MoU) would be signed during the visit of Textiles and Jute Minister Abdul Latif Siddique to New Delhi on Aug 19.
He will be visiting on the invitation of his counterpart KS Rao and the two would hold ‘extensive talks’ on issues involving the textile and jute sectors.
The MoU will provide cooperation in fashion technology, skills exchange, and productivity enhancement.
It also aims to foster cooperation on techno-commercial collaboration in development of textiles including upgrading and enhancing production efficiency, management techniques, training, research and development; cooperation and facilitation in participation in trade exhibition and buyer-seller meet; making a provision for supply of agreed quantum of jute and jute goods from Bangladesh to India every year.
Jute and textiles contributed more than 50 percent of Bangladesh’s exports of $ 563.96 million to India in the last fiscal.
While the overall growth in Bangladesh exports to India in the last fiscal has been 13.15 percent compared with earlier fiscal, export of raw jute has grown by 17.5 percent to $133.9 million from $ 113.9 million.
In the same period, export of jute goods has grown 6.7 percent to $ 78.2 million from $ 73.3 million.
After the removal of duty and quota on readymade garment in September 2011, Bangladesh exports of woven and knitwear RMG to India had registered an increase of 53 percent in the 2011-12 fiscal.
In the last fiscal, exports in this sector again grew by 36.7 percent.
Source: bdnews24