DHAKA, DEC 31: Bangladesh's textile sector is set for substantial growth due to positive external factors, commerce and industries minister Tofael Ahmed said on Wednesday. "Despite setbacks caused by recent flooding, Bangladesh's textile sector could still achieve a higher growth because of favourable external conditions," Ahmed told Reuters in an interview.He said the country's garment exports were expected to rise to $5.63 billion in fiscal 1998-99 (July-June), from $3.7 billion the previous year.
"This is possible after the European Community relaxed rules of origin for use of yarn and fabric in making apparels," Ahmed said.
He said the EU, which offers Generalised System of Preference (GSP) facilities to least developed countries, would now allow use of imported yarn.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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