September 27, 2010 (Sampurn Wire): It has been come to news that the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) along with the Bangladesh Knitwear Manufactures and Exporters Association (BKMEA), of late expressed their anxiety over the domestically as well as worldwide increment in cotton prices. The industry insiders are claiming that this would impact the Bangladeshi economy drastically.

Bangladesh Garment Manufacturers and Exporters Association and Bangladesh Knitwear Manufactures and Exporters Association via a joint statement, have made a demand to the government, that the latter should completely intervention in order to control the unpredictable market of cotton. The increment in cotton price’s means that the apparel and the garment industry would get a big blow and this would spell disaster for the economy.

Furthermore, the spinners also have been appealed to the lobbyists so as not to charge hefty prices, in order to conserve and protect the clothing sector. The Bangladeshi clothing sector generated US $15.56 billion of revenues, last year.

The aforementioned trade groups are insisting that, the spinners should reasonably fix the prices of cotton yarn, in order to help the sector. There are about three million men, women who earn their livelihood from this sector. Therefore the sector must be saved.

-- Sampurn Wire