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Related Keywords: act as an export gateway, Aditya Birla, Assocam, between India and Turkey, broaden business horizon, Custom Union, jute, leather, Mahindras and Mukesh Ambani groups, opened an office in Kolkata, present in Turkey, promote trade and investment, signed MoU, Tatas, TICCI, trade of textile, Turkey, with EU

Turkey has customs union with the European Union and thus acts as an export gateway to the EU. To promote trade and investment between India and Turkey, the Turkish Indian Chamber of Commerce & Industry (TICCI) has opened an office in Kolkata. TICCI has also signed a MoU with Assocam to broaden the business horizon for the two countries

TICCI President Ersin Karaoglan said that the chamber is focusing on automotive spares as well as tourism and education for bilateral business cooperation.

Related Keywords: Bangladesh to explore, boost bilateral trade, Canada Bangladesh Chamber of Commerce and Industry, Canadian imports, CanCham, duty free market access to Canada, encourage investment, increase export diversification, jute, organized trade fair, other fabric, potential trading opportunities, readymade garment

Bangladesh has been enjoying duty-free market access to Canada since 2003 are now focusing to explore potential trading opportunities include expanding Canadian imports of readymade garment, jute, ceramic tableware and kitchenware.

Bangladesh aims to boost its present trade level of $2.0billion with Canada to $5.0 billion by 2020, a business leader said on Saturday.

Masud Rahman, president of Canada Bangladesh Chamber of Commerce and Industry (CanCham) said that they plan to increase their two-way trade to $5.0 billion at the end of 2020.

Related Keywords: jute, jute farmers, labour shortage, new jute price, Nilphamari district, processing cost, processing of jute, target jute cultivation

A long process is required to get jute fibre for marketing and the jute farmers are now engaged in the process. Processing of jute is going on in full swing despite acute labour shortage in Nilphamari district in Northern Bangladesh.
 
The labour shortage has lead to increase in the remuneration of a labour to Tk 400 per day as a result processing cost also gone up.
 

Related Keywords: cotton, domestic consumption, export demand, FDI limit, garment, Indian textile market, jute, promotiona visit, raw material, silk, sourcing hub, Textile, wool

Textile & Apparel sector in India is an important contributor to the national economy in terms of direct and indirect employment generation and net foreign exchange earnings, contributing 4% to India’s GDP in 2012, the sector has also attracted direct foreign investments worth USD 1.11 billion from April 2000 to February 2014.
 
Currently, the overall textile and apparel sector accounts for about 24% of world’s spindle capacity and 8% of global rotor capacity and is expected to touch USD 223 billion by 2021.
 

Related Keywords: Bangladesh, bilateral trade and investment, Free trade agreement, imports cotton, jute, jute goods and readymade garments, textile processing raw materials, Turkey

Bangladesh seeks to sign a free trade agreement (FTA) with Turkey to boost bilateral trade and investment. A high-powered Bangladesh delegation headed by an additional secretary of the ministry will be in Turkey early August seeking to increase bilateral trade and investment between the two countries. They would be negotiation over signing of a FTA with Turkey for mutual benefits.
 

Related Keywords: Cabinet Committee on Economic Affairs, jute, Ministry of Textiles

Cabinet Committee on Economic Affairs (CCEA) cleared the proposal on hiking minimum support price(MSP) of jute. Government has hiked the minimum support price (MSP) of jute by Rs 100 to Rs 2,400 per quintal for 2014-15 season. The hike in MSP is expected to prompt farmers to increase investment in jute cultivation and boost production.

Jute MSP of TD-5 variety has been increased by Rs 100 per quintal, Finance Minister P Chidambaram told reporters after the CCEA meeting.