The government has started to prepare an agro processing industry development policy considering the existing exports potential of the sector, officials said.
With this end in view, the Ministry of Industries (MoI) has started to work for preparing a draft 'Agro-processing industry development policy- 2019'.
"We're working on the issue. We have gathered information and recommendations from the stakeholders to prepare the draft agro-processing industry development policy-2019," a high official of the industries ministry involved with the process told the FE.
The northern region of the country has tremendous potential for agro-processing as the area yields huge agricultural products annually, according to the sector insiders.
Vegetables -- such as potatoes, cauliflowers, tomatoes, white gourds, beans, spinaches and peas -- baby corn cereals, tea leaves, fruits and livestock have huge prospect for exports.
Potato flakes also have great international demand. The production technology of potato flakes is relatively simple and labour-intensive.
The industries ministry official further hinted that the upcoming policy would recommend adequate policy and financial supports to the entrepreneurs, and scope for public-private joint venture.
Technical innovation, capacity building, research and development facilities and removal of barriers will also be suggested in the proposed agro-processing industry development policy.
The agro-processing sector in the country is currently valued at around US$ 3.0 (three) billion and the sector has the potential to grow in a rapid manner, according to the sector insiders.
"We hope the proposed agro-processing industry development policy-2019 will help flourish the sector," a director of Dhaka Chamber of Commerce and Industry (DCCI) told the FE.
The industries ministry official further said that a meeting of the stakeholders would be held soon for a comprehensive discussion on the policy.
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