Bangladeshâ€™s expanding textile manufacturing sector to learn more about Australian cotton capabilities and to identify new suppliers, a Bangladeshi delegation will be visiting Australia this week. Bangladesh the second largest cotton importer in the world and will become a significant cotton export market for Australia.
Australia is the worldâ€™s fourth largest exporter and has earned a reputation as a reliable supplier of high-quality cotton which has almost zero contamination, said Tim Martin, Austradeâ€™s New Delhi-based Trade Commissioner and Bangladesh Country Manager.
Australiaâ€™s cotton industry competes against a highly globalized market, short shipping times from Australian ports, in Brisbane, Sydney and
Melbourne, to Asian markets provide added advantages.
Austrade Dhaka, in partnership with the Australian Cotton Shippers Association (ACSA), has conducted numerous initiatives with the local textile sector to position Australian cotton as a key supplier.
This included the 10 member ACSA delegation, led by Chairman Tony Geitz, which visited Dhaka in May this year. The delegation participated in seminars which highlighted Australiaâ€™s cotton capabilities, quality attributes and latest research.
The delegation also met with 90 Bangladeshi business people, textile mill representatives, local agents and importers, to explore further cooperation and partnerships between Australia and Bangladesh.
Martin said that the success of this mission generated significant interest from Bangladesh Textile Mills Association (BTMA) members and as a result several BTMA members attended the 18th Australian Cotton Conference, organized by ACSA and Cotton Australia, held from 2-4 August.
While Bangladeshi spinners still think Australian cotton is expensive, tie-ups between textile companies in Bangladesh and big retail buyers in Australia are proving to be a lucrative and growing channel for Australian cotton growers. It is expected the visiting BTMA members will also result in creating new partnerships, said Martin.
Australiaâ€™s trade with Bangladesh has grown steadily over the past few years, with two-way trade totaling A$1.4 billion for the 2014-15 financial year. Australian exports to Bangladesh was A$708 million.
With a growing middle class of around 30 million, Bangladesh is also developing as a significant consumer market, while exports account for 25 per cent of GDP.
Bangladesh imports more than 6 million bales of cotton. This is projected to double within four years and see Bangladesh overtake China as the worldâ€™s largest importer of cotton.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide