Bangladesh garment Manufacturers and Exporters association (BGMEA) President Faruque Hassan has said Bangladesh and Brazil have potential to derive more mutual trade benefits.
He said Brazil is the fourth largest cotton producer and second top exporter while Bangladesh is the second largest cotton importer in the world.
President of Brazilian Cotton Growers Association (ABRAPA) Julio Cesar Busato met the BGMEA President on Wednesday and discussed issues of mutual interest.
They had discussions on the present situation of the global cotton market, price stability, demand and supply, challenges of supply chain.
Both sides also talked about how the cotton supply chain can be strengthened to meet the growing demand of the RMG and textile industry of Bangladesh.
The issue of existing challenges and barriers to cotton import and exports and possible ways to address them got due importance in their discussion, according to the apex body of the country’s apparel sector.
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Cotton is the main feedstock of the export-oriented garment export industry in Bangladesh as 75% of the total exported garments are produced from cotton.
BGMEA Vice President Shahidullah Azim, Vice President (Finance) Khandoker Rafiqul Islam, Director of International Relations at ABRAPA Marcelo Duante Monteiro and commercial specialist at Brazil Embassy in Bangladesh Nahid Ferdousi were also present.