Latest technologies, machinery make 15th Plastic Fair attractive

The four-day 15th International Plastic Fair, "IPF Bangladesh 2023", has brought some 742 stalls of local and international brands under a single roof displaying the latest manufacturing technologies-machineries and modern plastic products. 

The fair, inaugurated by Industries Minister Nurul Majid Mahmud Humayun as chief guest yesterday, will continue till 25 February at the International Convention City Bashundhara. 

A good number of visitors were seen thronging the fair on the first day. 

In the fair, industrialists will be able to get all kinds of essentials, which are needed to set up or develop a factory, like plastic and rubber raw materials, machinery, parts and accessories, product quality detection instruments, different equipment, pigments and also modern products in one place. 

Industry players can collect product label making machines, flexible packaging, plastic equipment, molds, containers etc. 

Plastic goods like furniture, tableware and kitchenware, plastic toys, stationery items and garments accessories are also available.

The fair is jointly organised by the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) and Yorker Trade and Marketing Service Co Ltd aiming to create new opportunities and expand the market for locally made plastic products.

At the fair, there are at least 742 stalls of 494 companies, from home and abroad. China, Taiwan, India, Vietnam, Sri Lanka, Pakistan, Indonesia, South Korea, Belgium, Canada, USA, France, Hong Kong, Italy, Japan, Malaysia, Austria, Singapore, Turkey and the UAE are among the around 21 foreign participant countries.

Talking to The Business Standard, the participants from both home and abroad expressed their satisfaction with the attendance of visitors to explore the fair on the first day.

At the opening ceremony, Minister Nurul Majid Mahmud Humayun said, "I hope the IPF-2023 will widen the marketing opportunities of the plastic products of Bangladesh and believe this fair will achieve its objectives of product development, diversification and export growth". 

Urging entrepreneurs to bring diversification in products, he added, use of plastic products is getting more and more popular in the country day by day. Use of plastic products as alternatives to wood is playing a significant role in saving the environment and forest resources. 

The minister further said that a comprehensive National Industrial Policy was formulated by putting special emphasis on developing Small and Medium Enterprises as a thrust sector for balanced and sustainable industrial development in the country to help deal with challenges of a free market economy.

Federation of Bangladesh Chamber of Commerce and Industry President Md Jashim Uddin said, "The plastic sector has a huge opportunity as we have a little stake in the world plastic market of around $800 billion. To grab the market strongly, we need a compliance industry as well as plastic factories in Old Dhaka need to be relocated, and for both steps, a dedicated land is crucial". 

He stressed the need for developing a strong waste management system and making people aware of plastic waste, saying, currently, only 35% of plastic waste in the country is being recycled due to weak waste management.

BPGMEA President Shamim Ahmed said this fair will help increase the plastic sector investment, market size and export volume.

He said this sector still depends on importing raw materials of around 2 million tonnes per year, which is one of the major problems to the plastic sector. 

Conducive policy support from the government is needed to flourish and facilitate setting up of backward linkage and raw material production factories, added Shamim.