"The team will hold discussion for importing cotton directly from Uzbekistan to halt the rise in prices of the raw material in the local market," a senior official of MoC said.

Bangladesh will be able to procure more cotton at cheaper prices through the direct trading facility, he said adding it will be a great advance for the booming textile sector as the country purchases the raw material through third-party sources, the Financial Express reported..

Currently, Bangladeshi yarn producers purchase Uzbek cotton from the third-country sources, especially the Geneva-based suppliers, which leads to higher cost compared to the value at source.

The local readymade garment (RMG) producers have been hard hit by the higher prices of yarn and fabrics in the local market.

The delegation will attend the Medixpo-2010 trade fair on 9 November to diversify and expand market for the local products, the official said.

Bangladesh imports over 40% of its annual 4 million bales of cotton requirement indirectly from Uzbekistan.

The commerce minister will meet his Uzbek counterpart, cotton management board and other policymakers and hold discussions on removing tariff and non-tariff barriers for direct cotton sourcing.

Bangladesh imported products worth US$442.80 million from Uzbekistan while its export stood at only US$4.20 million in 2009-10 fiscal year, EPB data said.