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Bangladesh seeks to boost exports with cotton summit

  • >> Reuters
    Published: 2015-03-19 10:06:37 BdST

credit - Bangladesh Cotton Association

Bangladesh, the world's second largest cotton importer, has invited buyers and sellers to a two-day global summit from next Friday to help support its textile and clothing exports.

The sector accounted for $24 billion of Bangladesh's $25 billion of goods exports in the fiscal year to end-June 2014.

"We plan to raise our ready-made garments and textile exports to $50 billion by 2021," Tapan Chowdhury, the President of Bangladesh Textile Mills Association told a news conference on Wednesday.

Bangladesh has to import more than 90 percent, or 5.5 million bales of cotton annually.