Landlocked Nepal has urged Bangladesh to withdraw its restriction on yarn import through the Banglabandha land port in Tetulia of Panchagarh district, saying the ban is causing financial losses to Nepalese yarn manufacturers. Bangladesh commerce ministry has also requested the country’s National Board of Revenue (NBR) to consider Nepal’s proposal.
Bangladesh commerce secretary Shubhashish Bose sent a semi-official letter to the NBR in this connection, according to media reports in the country.Landlocked Nepal has urged Bangladesh to withdraw its restriction on yarn import through the Banglabandha land port in Tetulia of Panchagarh district, saying the ban is causing financial losses to Nepalese yarn manufacturers. Bangladesh commerce ministry has also requested the country's National Board of Revenue (NBR) to consider Nepal's proposal. #
The NBR on July 7 arranged a meeting with stakeholders to examine the Nepalese proposal. Participants from the private sector spoke against lifting the ban at the meeting.
Nepal had been reportedly repeatedly seeking permission for export of yarn, particularly acrylic yarn, to Bangladesh. The issue was also discussed at the secretary-level talks between the two countries.
Nepal exports only acrylic yarn and it has no production of cotton yarn.
Bangladesh imposed the restriction of yarn import through land ports in 2002 to safeguard the local cotton yarn industry from Indian exports. After few years, it withdrew the ban for the Benapole land port but the ban remains in place for the Banglabandha land port.
Bilateral trade between Nepal and Bangladesh takes place through Banglabandha and Fulbari land ports.
The Bangladesh Textile Mills Association feels as there is no laboratory for measuring the quality of yarn at Banglabandha unlike the Benapole land port, that may cause duty evasion through mis-declaration and false information about the rules of origin.
The Bangladesh Garment Manufacturers and Exporters Association also does not find the necessity to import yarn from Nepal. (DS)
Fibre2Fashion News Desk – India
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