Bangladesh Textile And Clothing Exporters Ask The Government To Cut Taxes.
Bangladesh textile industry appeals for government changes
Clothing tax
To help exporters and
Overseas competition
Rival competition.
Jahangir Alam, President of Bangladesh textile factory Association (Jahangir Alam) urged the government to raise cash incentives from 5% to 15%.
He said the United States and Europe are Bangladesh's main export destinations, but the US and European economies are still fragile, and the industry expects that exports to the US and Europe will decline in the near future.
Besides, the government of Turkey will be right next month.
Imported garments
Levying 17% of the special tax can seriously affect Bangladesh's export.
In the financial year ending in late June 2010, Bangladesh clothing exported $650 million to Turkey.
Leaders of the association also called for the extension of two duty-free tools to 2015 instead of 2013, so as to help the garment industry complete the export volume of US $18 billion.
The Bangladesh garment industry employs about 5 million 500 thousand workers, most of whom are women.
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