RMG sector to press EC for uniform value addition norms
09 Apr '07
1 min read
Garments, knitwear and textile exporters are planning to demand a generalized value added duties from the European Commission (EC) for all products.
Sources said that Bangladesh Garment Manufactures and Exporters Association (BGMEA), Bangladesh Knit Manufactures and Exporters Association (BKMEA) and Bangladesh Textiles Mills Association (BTMEA) are expected to meet this week to reach an agreement on a uniform value addition criterion for proposing to the EC.
Insiders believe that when EC revises the current generalised systems of preference (GSP) in June, it insist 50 percent tax on sweater and knitwears and 35 percent on woven products.
If this plan is implemented, domestic ready-made garment, especially the sweater exporters, will be adversely affected. Statistics show that EU absorbs 55 percent of Bangladesh's total output.
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