Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 694 Sat. May 13, 2006  
   
Business


Turkish textile millers keen to relocate plants to Bangladesh


Turkish textile entrepreneurs have expressed interests to relocate their industrial units to Bangladesh to take the benefit of low production cost here, industry sources said.

A 20-member delegation of Dyeing-Printing-Finishing Association of Turkey is expected to visit Bangladesh by the end of this month to look into the investment opportunities.

"They have expressed interests to relocate their firms to Bangladesh as production cost in Turkey is much higher than that in Bangladesh," Chairman of Bangladesh Textile Mills Association (BTMA) MA Awal, who recently visited Turkey, told the news agency.

He said Turkish textile manufacturers are now searching for cost-effective investment destinations.

Turkish investors have large manufacturing units and relocation of these industries would greatly benefit Bangladesh, he added.

BTMA president said a Bangladesh-Turkey Investors Forum will also be formed in July to make the initiative a success.

A delegation of the Textile Employers' Association of Turkey is expected to visit Bangladesh by September, he said.