Bangladesh Textile Mills Association (BTMA) is seeking a sustainable energy price and a return to fixed lending interest rates to attract investment in the export-oriented manufacturing sector.
The association also urged the government to stop yarn imports through land ports to protect the quality of the domestic production sector.
BTMA President Showkat Aziz Russell placed the demands at a press conference held in a hotel in the capital on Tuesday. The press conference was organized on the occasion of Bangladesh's Largest Textile Machinery Exhibition, to be held February 20-23.
He said low-quality and undeclared yarns have been imported through land ports, which is a threat to the domestic textile sector.
“The lower quality yarn is imported from the land ports and used by the clothing sector. If such lower-quality products are exported, it would be a reason behind destroying the export market,” said the BTMA president.
He warned that if the import of yarns through land ports continues, the domestic textile sector would be forced to shut down.
Russel said that the textile sector is suffering from higher prices of gas, electricity, and bank lending interest rates. In addition, uncertainty in gas supply has created another challenge for the export-oriented industry.
“In such a situation, foreign direct investment flow in the textile sector decreased by 70 percent. If the situation does not improve, with no long-term assurance of gas supply and lending rates not fixed, the foreign investors would not come to invest here,” said Russel.
The 19th edition of DTG will be held from February 20 to 23, 2025 at the International Convention City Bashundhara (ICCB), Dhaka.
The BTMA in collaboration with Yorkers Trade & Marketing Service Co., Ltd., Hong Kong has been organizing "The Dhaka International Textile & Garment Machinery Exhibition" (DTG) since 2004.
DTG 2025, Bangladesh's largest textile machinery exhibition, will feature 1,600 stalls and over 1,100 top brands from 33 countries, showcasing cutting-edge innovations in textile technology.
The Exhibition highlights advancements in textile machinery, fabric production, dyeing technology, and accessories. Leading enterprises from China, Germany, India, Italy, Japan, South Korea, and Türkiye will participate, reinforcing Bangladesh's standing as the world's second-largest exporter of ready-made garments (RMG).