Bangladesh Asked The United States To Grant Duty-Free Clothing.
Bangladesh once again appealed to the United States to grant tax exemption for us garments to revitalize the economy.
Textile exports account for a large proportion of Bangladesh's exports. In 2007, textiles accounted for $3 billion 100 million in revenue, and 1/3 came from clothing exports to the United States. The Bangladesh Garments Manufacturers and Exporters Association, a Bangladesh garment manufacturer, believes that if the tax exemption for us garments is exported, it will greatly enhance the economy of the country and create 200 thousand jobs, especially for women. Of the 140 million of the population in the country, 12 million people work directly or indirectly in the garment industry.
Bangladesh now has to pay a 16% tax rate for garments exported to the United States. In the fiscal year ended June 2007, Bangladesh's export value was $12 billion 180 million, of which 9 billion came from garments exports.
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