Plastic goods exports jump 58pc in four months

FE Team | Published: November 15, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Shah Alam Nur Plastic exports climbed by 58.30 per cent in the first four months of the current fiscal, helped by international restrictions on Chinese products. Bangladesh earned Tk 2.27 billion by exporting plastic products in July-October period of 2012 financial year, compared with Tk 1.43 billion in the same period last fiscal, according to the Export Promotion Bureau (EPB). The amount is 15 per cent short of the target of Tk 2.70 billion. "The demand of our products is increasing in countries, especially in the USA and European countries, due mainly to restriction on Chinese products," said Shamim Ahmed, president of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA). He said manufacturers are producing plastic goods worth over Tk 80 billion annually. According to BPGMEA and Export Promotion Bureau (EPB), the country exports plastic items valued at Tk 5.00 billion directly and Tk 15 billion indirectly to over 23 countries annually. During the last five years, export of plastic goods increased by Tk 6.13 billion witnessing on an average 40 per cent annual growth, said Mr. Ahmed. Established as a backward linkage industry, he said plastic industry has now become one of leading foreign currency earners. He added that the demand for Bangladeshi plastic goods is increasing in the USA and European countries in the wake exports ban on Chinese-made plastic toys. "If we can exploit this opportunity, we'll be able to export plastic products to the USA and European countries worth several billion dollars," he added. Former president of BPGMEA Ferdous Wahid said the sector needs policy support and cash incentive from the government. "The government often talks about diversification of our export products and I think, plastic goods can be one of them," he added. "Plastic is widely used for packaging export products and local manufactures are producing 100 per cent such wrapping plastic item," Mr Wahid said. The plastic products that are now on export list include shopping bags, butcher bags, PVC pipe, polyethylene-sheets, ball- pens, tooth-brush, toys, hanger, hand- gloves, artificial flowers, table-covers, computer accessories, wastebaskets and wall-clocks. According to the BPGMEA, major destinations of Bangladesh plastic products are Poland, China, India, Belgium, France, Germany, Canada, Spain, Australia, Japan, New Zealand, the Netherlands, Italy, United Arab Emirates (UAE), Malaysia and Hong Kong. An estimated six million people are directly or indirectly employed in nearly 3000 small, medium and large plastic product manufacturing units.