A year after Bangladesh’s textile industry suffered a major setback when it stopped producing cotton, the country’s textile manufacturers are expected to start exporting up to 50,000 pieces of cotton per day.
A spokesman for the Bangladesh Export and Import Development Authority (BEIDA), which oversees the sector, said it is expecting to begin exporting up from 15,000 per day to 60,000, which is up from the 10,000 a day it was expecting.
The Bangladesh Cotton Council, an industry body, said in a statement on Thursday that it expects the export rate to be higher than 20,000.
“This will be an important milestone in the long-term economic development of the sector in Bangladesh,” said a statement from the group.
Bangladesh exports around 70,700 pieces of textile products a year to Europe, the United States, and India, the World Bank said in November.
The country’s exports to Asia account for nearly 90 per cent of its overall textile exports.
Bangls exports to Europe rose by 9 per cent in the fourth quarter, to 2.9 million kilogrammes.
In the same period, exports to India rose by 3 per cent, to 1.6 million kilograms.
The World Bank predicts that the sector will grow by more than 20 per cent by 2023.
Bangla has long been a centre for textile production, with its textile mills supplying garments for many Western European countries and the US, but the industry was hit by a devastating bout of yellow fever in late 2010.
The outbreak, which killed about 1,000 people, led to a major increase in the number of people affected by the disease, which has now spread to more than 40 countries.
The government in Dhaka and the countrys ruling party have promised to rebuild the industry, but a string of failures by government and private sector firms have caused concerns about the future.