Textile and clothing exports from Bangladesh increased by 12.9% during the first ten months of the country's 2013/14 financial year (July 2013-April 2014). Sales of Bangladeshi textiles and clothing in the EU import market rose by 9.0% in 2013 and by 15.3% during January-March 2014. Sales in the US import market rose by 10.5% in 2013. But during January-May 2014 they were down by 1.1%, following a decision by the US government to suspend Bangladesh's preferential duty treatment under the USA's Generalised System of Preferences (GSP) scheme. Bangladesh's preferential access to the EU could also be revoked if the Bangladeshi government does not take the necessary steps to significantly improve building safety standards and overall labour conditions in the country—despite the significant progress which has been made following the collapse of Rana Plaza in April 2013. In India, textile and clothing exports increased by 12.9% to a record high during the country's 2013/14 financial year, which ended on March 31, 2014. The increase in exports during the year was reflected in rises in exports to a number of geographical markets, including Asean countries, Bangladesh, China, the EU, Turkey and the USA, although exports to Pakistan declined. The increase in India's textile and clothing exports was reflected in strong growth in textile production.
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