Govt to diversify export basket: Tipu Munshi

Staff Correspondent

20 June, 2021 12:00 AM printer

The government has put emphasis on plastic sector along with four other products to diversify the country’s export basket eying on facing LDC graduation challenges, Commerce Minister Tipu Munshi said on Saturday. 

“Currently, RMG constitutes nearly 84 percent of the country’s export trade, which is very risky,” Tipu Munshi said.

“So, the government has formulated an export policy with prioritising plastic, leather, agriculture, ICT and pharmaceutical products to increase the number of exportable goods,” he added.

He said this while virtually addressing the inaugural function of “15th Bangladesh International Plastic, Printing and Packaging Industry Fair 2021” as the chief guest.

Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) in association with Yorkers Trade & Marketing Service Co Ltd will organise the event at a city hotel from early July.  The ministry of commerce is implementing a $100m project called “Export Competitiveness for Jobs (EC4J)” with the World Bank’s support to provide necessary technical, training and other supports to these sectors,   

With the initiative it will be possible to create some 90,000 skilled workforce by 2023 through the technical centres set under the project, the minister informed.

“Plastic is a potential industry of Bangladesh and it has seen a robust growth. There is no alternative to gaining skill in business and trade to face LDC graduation challenges as we’ve to survive by competing with other developed countries,” Tipu Munshi said.

Besides, the government is trying to sign bilateral trade deals like PTA and FTA with a number of countries in a bid to face challenges of LDC exit, he also informed.  

Terming the next fiscal’s proposed budget business-friendly, the hoped that it will help establish the country’s business and trade on a solid foundation. 

The commerce minister stressed on capturing global market by local products with use of modern technology and new designs created by skilled workforce, adding that the government is giving all types of support for this. 

International Plastic Fair (IPF) online expo will continue from July 5 to 8, where 483 plastic companies of 19 countries will take part.

The countries include Bangladesh, China, Egypt, Ethiopia, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Saudi Arab, Singapore, South Korea, Sudan, Taiwan, Thailand, Turkey, UAE and Vietnam.

The visitors will be able to visit the fair online and will be able to know about displayed products through video conference.

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Md Jasim Uddin, BPGMEA president Shamim Ahmed and Judy Wang, president of Yorkers Trade & Marketing Services Co also spoke on the occasion.