General

Global Cotton Summit-2017 on Jan 27

DHAKA, Jan 25, 2017 (BSS) - Global Cotton Summit-2017 is going to take place on January 27 in the city aiming to bring the people of this sector together from home and abroad for better business.

Bangladesh Cotton Association (BCA) and Bangladesh Textile Mills

Association (BTMA) are jointly organising the event for third times.

Foreign Minister Abul Hassan Mahmood Ali would inaugurate the summit as the chief guest in the city's Radisson Blu Water Garden Hotel, said BTMA Vice-President Mohammad Ali Khokan at a press conference in BTMA office today.

He said traders, shippers and merchants from Bangladesh, India, Sudan, United Kingdom, Singapore, Switzerland, Mali, Burkina Faso, Chad, Turkey, Iran, the United States and more are expecting to participate at the summit.

"The summit would strengthen the buyer-seller relation as well as ease the barriers of sale and buy of cotton," said Mohammad Ali.

He opined the summit would also help to ensure the uninterrupted sourcing of cotton to continue the production of textile sector.

Now Bangladesh has 430 spinning mills which have 11.50 million spindle capacities as cotton import amount witnessed over 100 percent growth, while it has been increased to 6.1 million bales in 2016 from three million bales in 2005.

Replying to a query, the minister said Bangladesh would need additional 15 lakh bales of cotton in coming years and the summit would play a great role to meet the demand.

BCA General secretary Mehedi Ali and other leaders of BCA and BTMA were present.

Source: Bangladesh Sangbad Sangstha (BSS)