New platform aims to boost US cotton sales

A new digital marketing platform, CottonPort, was launched yesterday to boost sales of US cotton in Bangladesh.

Aswar Rahman, chief executive officer of AmeriBangla Corporation and a Bangladeshi-born American, launched the platform at The Westin Dhaka.

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AmeriBangla currently supplies 16 containers of US cotton to Bangladesh every month. Aswar expects the volume to rise to 280 containers from next year, driven by growing demand for American cotton.

CottonPort will reduce the role of middlemen and enable US growers to sell cotton directly to Bangladeshi spinners, he said.

The platform will allow spinners to purchase any quantity of cotton at any time and at competitive prices.

Responding to journalists’ queries, Aswar said disputes arising from transactions could be settled through the American Arbitration Association and courts.

He also said US cotton imports are expected to increase significantly following the trade agreement signed between the US and Bangladesh.

Under the agreement, the US government agreed to provide duty-free market access for Bangladeshi garments made from imported US cotton and man-made fibres.