Thursday, 2 February, 2023

Leather sector exports may hit $10bn by 2030

Says commerce minister

  • Staff Correspondent
  • 8 December, 2022 12:00 AM
  • Print news

Commerce Minister Tipu Munshi believed that export earnings from the potential leather sector would reach $10 billion by 2030 if the quality of leather goods could be improved.

 “There is an ample scope for improving the leather sector and leather exports from the country. Leather exports can be raised to $10 billion from existing $1 billion by 2030,” he said while addressing the inaugural function of “Leathertech 2022.”

 “But for that, it is very important to improve the quality of leather goods. We’ve raw materials and skilled manpower and we can advance the industry to a step forward” the minister emphasised.

Leather Goods and Manufacturers and Exporters Association of Bangladesh (LFMEAB) organised the expo at the International Convention City Bashundhara in Dhaka.

The commerce minister said, “There is a huge demand for leather goods in the international market. The leather industry can be easily set up in 100 economic zones being established in 100 special economic zones with the directive of Prime Minister Sheikh Hasina.”

Many countries had already come forward to invest in these economic zones at the development stage, he said.

 “Investors will benefit if they invest here while jobs will be created for skilled manpower,” the minister said.

He said that the government had shifted tanneries from the capital’s Hazaribagh to Savar where “the leather industry is growing with the government’s special support.”

Tipu Munshi said, “Although Bangladesh will lose market preference in 2026, the country

can take the chance of the leather industry shifting from China and Vietnam.”

 “It is a big opportunity for Bangladesh,” he emphasised.

Bangladesh Tanners’ Association (BTA) Chairman Shahin Ahmed also spoke at the event chaired by LFMEAB president Syed Nasim Manzur.

Leathertech is being held for the 8th time in the country where 200 companies from 10 countries are taking part. The expo will remain open to the public from 11am to 7pm until December 09.