News Tags

Related Keywords: Bangladesh jute spinners, Bangladesh Jute spinners association, bank interest waiver, cut production, hit jute export trade, income of private jute spinners, jute mills, political turmoil, production cost, shipment of raw material

The political turmoil in Bangladesh has hit jute export trade and income of the country's 96 private jute spinners. Overall export earnings and activities of the factories have been hampered because of blockade coupled with hartals enforced by BNP-led 20-party alliance, the Bangladesh Jute Spinners association said.

Related Keywords: as bed sheets, Bangladeshi home textile entrepreneurs, bedcovers, curtains, EU GSP facility to Pakistan, expansion of existing capacity, gloves, growing global demand, invest in new factories, kitchen aprons, local home textile products, make more investment, napkins and tablecloths, pillow and cushion covers, political turmoil, quilts, rugs

Bangladeshi home textile entrepreneurs despite challenges like European Union’s GSP facility to Pakistan and current political turmoil are lured to make more investment in the sector due to the growing global demand for local home textile products. A good number of home textile manufacturers such as Unilliance Textile, Mom Tex, Fariha Group, Pakiza Group and Sad Musa have already invested millions of taka in new factories and expansion of their existing capacity.

Related Keywords: Bangladesh home textile, Bangladesh Textile Mills Association, bed-sheets, bedcovers, BFTI, cost competitiveness, cushion covers, EPB, GSP facility for Pakistan, Local currency appreciation, negative growth, Pillow covers, political turmoil, raw cotton, rising cost of production, yarn

Bangladesh home textile sector faces negative growth during the first two months of the current fiscal year 2014-15. The major factors which count for blocking the growth of country’s potential home textile exports are European Union GSP facility for Pakistan, appreciation of the local currency against the US dollar and recent political turmoil.

According to Jahangir Alamin, President of Bangladesh Textile Mills Association, Bangladeshi-made home textiles are lagging behind Pakistan in terms of cost-competitiveness, one of the major causes of setback.