A senior official from Bangladesh recently confirmed that the country will begin importing 250,000 tons of cotton directly from Uzbekistan under new trade agreements. This move marks a significant shift as it bypasses traditional international traders, allowing for more direct and potentially cost-effective cotton imports. The announcement was made on Saturday, and it comes amid growing demand for raw materials in the textile sector.
According to an integrated media report, the Bangladeshi official emphasized that the Uzbek government has committed to supplying cotton through direct trade annually. "This is a positive development for us," said Abdul Hai Sarker from the Bangladesh Textile Association. He noted that rising demand for raw materials in China’s clothing industry has put pressure on Bangladesh’s textile suppliers.
Earlier this month, Faruk Khan, Bangladesh's Minister of Commerce, visited Tashkent, where he received assurances from the Uzbek government that they would supply up to 250,000 tons of cotton each year. This agreement could help stabilize cotton prices and reduce dependency on third-party traders, particularly those based in Geneva and London, which have historically increased import costs.
Bangladesh’s garment industry remains its largest foreign exchange earner, accounting for around 80% of total exports. However, it heavily relies on imported cotton, making it vulnerable to global market fluctuations. Recently, rising yarn and fabric prices have caused serious challenges for local manufacturers.
India, the world's second-largest cotton producer, had previously announced plans to export 1.1 million bales of cotton to Bangladesh next year. It also pledged to revise its laws and remove non-tariff barriers on Bangladeshi jute bags. Meanwhile, Uzbekistan has proposed that Bangladesh also consider importing yarn from its factories, following the establishment of a joint venture in the country.
Uzbekistan is the third-largest cotton producer globally, and this partnership could strengthen economic ties between the two nations. With global cotton markets becoming increasingly volatile, direct trade agreements like this may offer greater stability and long-term benefits for Bangladesh’s textile industry.
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