Industries Minister Nurul Majid Mahmud Humayun said the government will continue to support the plastic sector. "The support you are getting will continue," he said.
The Industries Minister said it at the opening of the four-day 16th International Plastics Fair at the International Convention City (ICCB) in Bashundhara in the city on Wednesday. Bangladesh Plastic Goods Manufacturing and Exporting Association (BPGMEA) is organizing the fair.
The Industries minister said, "Industry and commerce have formed a good team along the formation of the new government. I believe that by working together we will take the business and trade to new position in future."
Mentioning that plastic industry is making great contribution to the countrys economy, the Minister said in keeping with the current market situation, everyone should work together to create a digital Bangladesh by increasing production and export of quality products through products diversification.
That is why plastic industry is becoming a city; printing industry is becoming a city. We are trying to fix all the problems.
State Minister for Commerce Ahsanul Islam Titu speaking in the vent said this government is emphasizing on products diversification. In that case, the plastic sector has great potential. "We will give you the policy support you need," he said.
He said, "However, the biggest challenge of plastic sector is that it is not environment friendly. So increased research on how it can go further without harming the environment is important. Producing quality products using own innovative technology is necessity."
Yorkers Trade and Marketing Services Company Ltd jointly organized the fair with BPGMEA. About 961 stalls of 654 companies from home and abroad are taking part in the fair. They are showcasing different plastic products and modern machinery used in the production of plastic products.
Foreign companies producing and supplying plastic sector machinery, moulds, raw materials are taking part in the fair. Among them, 800 stalls of 600 companies from 20 countries and 161 stalls of 54 domestic companies are participating.
The businesses participating in the fair have been divided into 15 categories including household products, crockery, packaging materials, plastic moulds, toys, pharmaceuticals, furniture, melamine, ready-made garment materials, PP oven bags, automobiles and electric and electronic products.
BPGMEA says that plastic products hold 12th position in the countrys export basket. In the last fiscal year 2022-23, the country exported US$120.98 million worth of products. It has increased 26.23 per cent in one year.
Currently, Bangladesh made plastic products are exported to 126 countries including the USA, Canada and European Union.
