Bangladesh government is taking steps to prevent the illegal import of yarn to protect the local textile industry. Bangladesh Trade and Tariff Commission (BTTC) will hold a meeting with stakeholders, including the Bangladesh Textile Mills Association (BTMA) and the Federation of Bangladesh Chamber of Commerce and Industries, to discuss necessary strategies.
Industry insiders claim that Indian textile mills are dumping yarn and fabric into Bangladesh, harming local producers. At a recent press conference, BTMA President Showkat Aziz accused Indian exporters of selling yarn below production costs, creating unfair competition. He also highlighted challenges like high production costs, gas shortages, and high bank interest rates.
Textile millers have urged the government to ban yarn imports through land ports and impose anti-dumping duties. They warn that, if unchecked, the textile industry could suffer a fate similar to the jute industry.
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