DHAKA NEWS
Dhaka, Mar 30 Bangladesh is negotiating with India to reverse the ban on cotton exports and import the fibre 'under any condition', commerce minister Ghulam Muhammed Quader said on Friday.
"Cotton is needed for readymade garment sector and as a SAARC country we want India to allow us to import under any condition," he said at the inaugural ceremony of the three-day 11th SAARC and Travel Mart 2012 at the Bangabandhu International Conference Centre.
India imposed a sudden ban on cotton exports on Mar 5, but partially rolled it back on Mar 12, following political pressure and an angry reaction from farmers. India, the world's second biggest producer of cotton after China, barred exports to secure domestic supplies after sales exceeded the government's estimate of the country's exportable surplus.
The Indian government is considering selling cotton to Bangladesh by way of a contractual agreement between the Cotton Corporation of India (CCI) and its counterpart in Bangladesh.
The commerce ministry has said India's ban on cotton export was against global trade norms, and repeatedly stopping the shipments of the natural fibre by the country impacted its textiles industry.
During its meeting with India's commerce secretary Rahul Khullar, a visiting Bangladeshi delegation led by commerce secretary Md Ghulam Hussain raised concern over restrictions imposed by India on cotton exports.
The Bangladesh side said it needed a minimum of 1.5 million cotton bales from India every year.
After the programme, minister Quader told that the trade agreement between Bangladesh and India had been renewed for three years without any change.
"Our commerce secretary went to India to discuss the cotton and other trade related issues," he said.
The commerce secretary-level Joint Trade Commission meeting between the two countries was held on Mar 28-29 in New Delhi.
Finance minister AMA Muhith at the programme said intra-SAARC trade is only 5 per cent of the grouping's total trade and it can be increased by enhancing cooperation.
"We are definitely progressing in that direction," he said.
Civil aviation and tourism minister Muhammed Faruk Khan said: "Economic development is the name of the game, and trade and tourism are the two sides of the coin."
Thirty Indian, 18 Pakistani and 10 firms each from Nepal and Bhutan are taking part in the 11th SAARC trade fair.
The main focus of the event is on promoting business information services to importers and exporters for making use of trade opportunities in South Asia.
"Cotton is needed for readymade garment sector and as a SAARC country we want India to allow us to import under any condition," he said at the inaugural ceremony of the three-day 11th SAARC and Travel Mart 2012 at the Bangabandhu International Conference Centre.
India imposed a sudden ban on cotton exports on Mar 5, but partially rolled it back on Mar 12, following political pressure and an angry reaction from farmers. India, the world's second biggest producer of cotton after China, barred exports to secure domestic supplies after sales exceeded the government's estimate of the country's exportable surplus.
The Indian government is considering selling cotton to Bangladesh by way of a contractual agreement between the Cotton Corporation of India (CCI) and its counterpart in Bangladesh.
The commerce ministry has said India's ban on cotton export was against global trade norms, and repeatedly stopping the shipments of the natural fibre by the country impacted its textiles industry.
During its meeting with India's commerce secretary Rahul Khullar, a visiting Bangladeshi delegation led by commerce secretary Md Ghulam Hussain raised concern over restrictions imposed by India on cotton exports.
The Bangladesh side said it needed a minimum of 1.5 million cotton bales from India every year.
After the programme, minister Quader told that the trade agreement between Bangladesh and India had been renewed for three years without any change.
"Our commerce secretary went to India to discuss the cotton and other trade related issues," he said.
The commerce secretary-level Joint Trade Commission meeting between the two countries was held on Mar 28-29 in New Delhi.
Finance minister AMA Muhith at the programme said intra-SAARC trade is only 5 per cent of the grouping's total trade and it can be increased by enhancing cooperation.
"We are definitely progressing in that direction," he said.
Civil aviation and tourism minister Muhammed Faruk Khan said: "Economic development is the name of the game, and trade and tourism are the two sides of the coin."
Thirty Indian, 18 Pakistani and 10 firms each from Nepal and Bhutan are taking part in the 11th SAARC trade fair.
The main focus of the event is on promoting business information services to importers and exporters for making use of trade opportunities in South Asia.
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