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Bangladesh primary textile sector facing troubles

Bangladesh's Primary Textile Sector (PTS), consisting of spinning, weaving, dyeing, printing and finishing, is passing through a difficult phase for almost one and half year due to both internal as well as external factors. Listing the global factors responsible for the troubles being faced by PTS, Mr. Ahmed Ali, Vice President of Bangladesh Textile Mills Association (BTMA), told “Serious debt crisis in the US, financial crisis in some EU nations and their subsequent salvation through introduction of austerity measures dampening the demand of EU as a whole, relaxation of EU's Rules of Origin (RoO) from two stage transformation to one stage transformation, imposition of 17 percent safeguard duty on apparels by Turkey, and unprecedented volatility of cotton prices in the international arena, have together shaken the very foundation of PTS.”