Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon today said due to the supportive policy of the government, the investment in the primary textile sector is around $12 billion.
He also noted the contribution of textile and clothing in total export revenue was 82%.
"In financial year 2020-21 the country's total export earning was $38.35 billion of which textile and clothing export was $31.45 billion," he said while addressing a programme arranged by Cotton Council International, USA and Bangladesh Cotton Association (BCA) marking World Cotton Day 2021.
BTMA president said the sector is helping the country to retain foreign exchange and enriching the foreign reserve as well, said a press release.
"Both the import and consumption of cotton in Bangladesh had risen steadily over the past decade. The Textile & Clothing sector has started to rebound after the Covid-19 halt and there is an upward trend in local & international demand of clothing products. In order to meet the said demand, the local Spinning mills required to import more cotton," he said.
Khokon said in fiscal year 2020-21, Bangladesh imported 8.2 million bales of cotton.
"If we look at the last 5 years data, our main sourcing countries of cotton are East & West Africa, India, CIS Countries, USA and Australia," he added.
The BTMA president further said the cotton import from the US is expected to increase to 14% in the coming year.
"If the US government considers providing some concession for the RMG products of Bangladesh made from US Cotton there will be a win-win situation for both the countries," he said.
He also requested US Ambassador to Bangladesh Earl R Miller and Brazil Ambassador to Bangladesh Joao Tabajara de Oliveira Junior to press their governments to increase cotton export to Bangladesh.
Textiles and Jute Minister Golam Dastagir Gazi alongside the two ambassadors were present at the programme.