AK Abdul Momen, who is the Foreign Minister of Bangladesh, has called on USA to lift the import duties on ‘Made in Bangladesh’ apparel items that are produced from cotton imported from the US.
The Foreign Minister, reportedly, made this call while attending the 25th anniversary ceremony of American Chamber of Commerce in Bangladesh, recently.
Speaking at the event, AK Abdul Momen, reportedly, underlined around 14 per cent of Bangladesh garment industry’s demand for cotton is met by imports from the US, and that US is the main export destination for garments produced from cotton, while adding, despite this, in case of apparel exports to US, the tariff is up to 56 per cent.
The minister further, reportedly, said USA makes the largest foreign direct investment in Bangladesh (which is about 25 per cent of total foreign investment), even as he called for increased and diversified investment in Bangladesh from USA.