Refayet Ullah Mirdha

The commerce ministry has recommended that the revenue board end the duty-free import of certain types of yarn under the bonded warehouse facility.

The country’s ready-made garment (RMG) exports to the European Union (EU) grew 7.65 percent to €18.05 billion (around $20 billion) during the January-November period of last year, compared with the same period in 2024, according to Eurostat, the EU’s official statistical office.

American buyers are tapping the shoulder of Bangladeshi apparel makers. While exchanging new year greetings, Canadian buyers are also asking them how things are going. Local manufacturers say they are receiving phone calls and emails from buyers in Europe as well.

Bangladesh’s readymade garment exports to the United States, the country’s largest single-market destination, grew more than 15 percent year-on-year to $7.08 billion in the January-October period, according to US government data.

The garment exporters, textile millers and senior officials of the Bangladesh Trade and Tariff Commission (BTTC) could not reach a consensus on a proposal to impose a 20 percent safeguard duty on yarn imports, pushing the issue to the commerce ministry for a final decision.

To decide the way forward, Trade and Tariff Commission is meeting today with spinners, garment makers and knitwear manufacturers

Merchandise shipments dropped in Dec for a fifth straight month

At the core of their concerns is the absence of trade agreements