New platform, CottonPort, launched to raise US cotton sales in Bangladesh

A new digital marketing platform, CottonPort, has been launched today as part of an effort to increase sales of US cotton in Bangladesh.

Aswar Rahman, chief executive officer of AmeriBangla Corporation and a Bangladeshi-born American, launched the new digital marketing platform at the Westin Dhaka in the capital.

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AmeriBangla currently supplies 16 containers of US cotton every month to Bangladesh, which he expects will increase to 280 containers from next year, riding on the growing demand for the American variety.

The platform, CottonPort, will cut the involvement of middlemen and enable American growers to sell cotton directly to spinners in Bangladesh, Rahman said.

The new platform will enable spinners to buy any quantity of cotton anytime at low prices, he said.

Replying to queries from journalists, he said that if any dispute arises, any victim can go to the American Arbitration Association and the courts for settlement.

The trader also said US cotton imports will rise significantly thanks to the trade agreement signed between the USA and Bangladesh, under which the American government agreed to allow duty-free market access for Bangladeshi garments made from imported US cotton and man-made fibre.