574 companies from 21 countries to participate in Int'l Plastic Fair
The sector is working on a target to achieve 3% share of the global market from the existing 0.1% by 2030, BPGMEA president says
Some 574 companies from 21 countries will showcase their products, machinery, and the latest technologies in 742 stalls and booths at the 15th International Plastic Fair-2023.
The four-day long event will be held at International Convention City Bashundhara (ICCB) in Dhaka from 22-25 February.
"The only and most professional exhibition is now one of the biggest events in South East Asian countries," Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) President Shamim Ahmed said in a press conference on Monday.
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The BPGMEA president said the fair has a great contribution to the progress of Bangladesh's plastic sector as it plays an important role in promoting plastic products to the international community and expanding the market.
The last 14th plastic fair was held in January 2019 with large participation from various countries and people. This year's fair is being arranged after three years due to the coronavirus, he added.
Replying to a query, Shamim Ahmed said, "After meeting the domestic demand, plastic products are being exported to 126 countries including, the USA, Canada, European Union countries, and all over Europe. The export earnings now are around $1.2 billion."
He continued, the plastic sector has a global market of $570 billion. The country's plastic sector is working on a target to achieve a 3% share of the global market, from the existing only 0.1%, by 2030.
The BPGMEA president said the country is currently in the 13th position in plastic products export. But if hidden exports (of which garment accessories are significant) are added to this, the position will be 6th.
Replying to another query, he said currently more than 5,030 micro, small, medium, and large industries are operating in the plastic sector across the country.
"Plastic products worth about Tk40,000 crore are currently being produced and marketed domestically. This sector contributes approximately Tk3500 crore in revenue to the government exchequer every year. The growth of the plastic sector is increasing at the rate of 20%."
Alleging that they are not getting the benefit that the garment sector is enjoying, he put forward demands for such facilities from the government.
"Currently, non-bonded institutions are getting 10% cash incentives from the government. But all bond and non-bonded companies should be brought under cash incentives," he elaborated.
He also demands a quick implementation of Bscic Plastic Industrial City to build compliance factories there and sought the handover of the allotted 90 acres of land in the Bscic Chemical Industrial Park in Munshiganj.
