Light engineering sector needs to brace itself for global mkt

Speakers at a discussion on Tuesday emphasised the urgent need for enhancing stakeholders' capacity to capitalise on the light engineering sector's potential in the global market.
The roundtable, titled "Unleashing the Export Potential of Light Engineering in Bangladesh," was organised by the non-governmental organisation Development Research Network (Dnet) at its office at Mohammadpur in Dhaka.
According to the concept paper of the event, Bangladesh has over 40,000 light engineering businesses spread across different areas, with the prominent hubs located in Dhaka, Chattogram, Narayanganj, Bogura, Jashore, Gazipur, and Kishoreganj.
The paper also highlighted that only five countries -- China, the USA, India, Singapore, and Japan -- import light engineering products worth $2.51 trillion, and Bangladesh enjoys access to all these destinations' markets.
Key points raised during the discussion included addressing policy anomalies, establishing specialized industrial zones, facilitating easy access to finance, promoting technology upgrades, and prioritising skill development to foster the sector's growth.
Ministry of Commerce Additional Secretary Abdur Rahim Khan, presented the keynote paper at the roundtable, jointly moderated by Dnet's Executive Director M Shahadat Hossain and its Senior Research Fellow Dr. Muhammad Shariat Ullah.
Prominent figures in attendance included Bangladesh Engineering Industry Owners Association (BEIOA) President Abdur Razzaque, President of the Central Board of Directors of the National Association of Small and Cottage Industries of Bangladesh (NASCIB), Mirza Nurul Ghani Shovon, Vice-President of the Bangladesh Bicycle and Parts Manufacturers and Exporters Association (BBPMEA) Mushtaque Ahmed Tanvir, and its Secretary-General Luthful Bari.
The keynote speaker said that the light engineering sector needed to be ready to cater to the changing global demand amid the shift of such industries from developed to developing countries like Bangladesh.
He emphasized that developed countries were switching to hi-tech manufacturing, creating opportunities for countries like Bangladesh to fill the void. The light engineering sector is considered a thrust sector and the highest priority sector in the export policy.
M. Shahadat Hossain, Co-founder and Executive Director of Dnet, stated that Bangladesh, on its trajectory to becoming a middle-income country, could significantly benefit from the light engineering sector.
Mushtaque Ahmed Tanvir emphasised the importance of the bicycle industry contributing significantly to the country's export earnings in the light engineering sector.
He noted that the demand for high-quality electric bicycles was increasing and he stressed the need for an international standard automobile testing facility to meet buyers' demand.

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