Bangladesh Yarn Marketing Professionals Association (BYMPA) hosted the installation ceremony for the newly elected Executive Council (2024–26). The event was attended by more than 200 members from 70 spinning mills across the nation.
According to a news release, BYMPA discussed during the occasion its intention to concentrate on member skill development, allowing the Bangladeshi spinning industry to conduct direct commerce with other RMG-exporting nations.
Ruhul Amin Ashiq, the newly elected General Secretary of BYMPA and Executive Director of Marketing & Business Development at Greentex Spinning (a concern of Getco Group) said, “This is a historic day for BYMPA. I am very pleased to join as a member and in my new role, I will give my best support to the development of BYMPA. We will soon submit our registration application. I hope BYMPA members will continue contributing to the country’s economy.”
Newly elected BYMPA President ABM Sirajul Islam, Director of Marketing at Jamuna Spinning Mills Ltd talked about the difficulties facing the yarn industry, and said, “Costs continue to be a big problem and that large amounts of yarn are still imported.”
He also cited data from the Bangladesh Textile Mills Association (BTMA), which shows that Bangladesh imported yarn valued at US $ 2.32 billion between July and March of FY 2022–2023, an increase from US $ 2.10 billion during the same time the previous fiscal year.
He said that the industry is going through a difficult period because the spinning sector is having financial difficulties and many RMG facilities are closing.
