Waive tariff on plastic toys, introduce universal packaging act: BPGMEA

Plastic goods makers on Monday called for quick development of industrial park, tax exemption on plastic toys and introducing a universal packaging act to help sustain the sector's growth.
The Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) also stressed the need for providing the sector with tax holiday facilities and making business promotion council more effective.
The BPGMEA leaders came up with the call at a press conference held on Monday in the capital to announce a four-day international plastic fair.
The BPGMEA and Hong Kong-based Yorkers Trade and Marketing Company Limited are jointly organising the 'International Plastic Fair-2019' which will begin on Thursday at the capital's International Convention City Bashundhara (ICCB).
BPGMEA President Jashim Uddin, Vice President K M Iqbal Hossain, former presidents Ferdous Wahed and Md. Yusuf Ashraf, and Yorkers Trade President Judy Wang were also present at the press conference.
The Financial Express is media partner of the international event.
Addressing the reporters, Jashim Uddin said the 14th version of the international plastic fair is expected to create a good impact on the country's economy, as the event is set to take place in a larger extent than that of previous years.
"The number of stalls grew to 780 this year from 480 in the previous edition of the fair," he said.
He also said around 480 businesses from 19 countries including China, India and host Bangladesh will take part in the exposition.
They will showcase products, services, raw materials, machinery and new technology at the fair aiming to expand their respective businesses.
The organisers said the fair will remain open for the visitors from 12:00pm to 8:00pm everyday without entry fee.
The BPGMEA president said they are working to introduce a roadmap, called the Roadmap-2030 which will help ensure a sustainable growth for the sector through addressing the issues related to environment and workplace safety.
Jashim Uddin said Bangladesh's annual per capita use of plastics is likely to increase to 34 kilograms (kg) in 2030, from 5-6 kg at present.
He also said both the local and global demand for plastic will increase in future.
"Bangladesh's share in the world plastic market is still limited to a meagre 0.06 per cent," he noted.
The global plastic market is a huge US $570 billion, he mentioned.
"Still there are so many things to do for the sector's development, specially developing specialised industrial zones for plastic-goods makers," he added.
According to the BPGMEA, the country's annual local plastic market size is estimated around Tk 250 billion. There are over 5,000 plastic factories which created employment for 1.2 million people.

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