Plastic fair from Feb 22 aims for market expansion
A four-day 15th International Plastic Fair-2023 is scheduled to be held at International Convention City Bashundhara in Dhaka from February 22 aiming to increase investment and exports through market expansion.
Companies from 21 countries including China, South Korea, Belgium, Canada, USA, France, Italy, Japan, Austria and United Arab Emirates are expected to showcase a variety of products and manufacturing machineries.
The products include household items, packaging materials, moulds, toys, pharmaceuticals, furniture, garments accessories, automobiles and electric and electronic merchandise.
Commerce Minister Tipu Munshi is expected to inaugurate the fair, being joint,ly organised by the Bangladesh Plastic Goods Manufacturers and Exporters Association and Yorker Trade and Marketing Service Company.
The fair is one of the biggest in Southeast Asia and is expected to play a greater role in the national economy, said the association president, Shamim Ahmed.
The plastic industry has gained importance over the last two decades and its growth has had multifaceted impacts on many important sectors of the Bangladesh economy, for which the government is giving it immense priority, he said.
Manufacturers of various types of plastic products used in the country, including machineries and molds, alongside raw material manufacturers and suppliers will participate in the fair, said Ahmed.
There will also be lively engagements among plastic sector representatives from different countries, said the association.
In Bangladesh, the use of plastics is rising thanks to their durability, lower prices and availability.
About 24 lakh tonnes of plastic items are used every year, with per capita consumption standing at nine kilogrammes, way lower than the global average of 60kg.
Domestically, plastic products worth about Tk 40,000 crore are annually produced and marketed, said the association.
This sector contributes approximately Tk 3500 crore in revenue to the government every year. Exports amount to about $1.2 billion, it added.
Currently, over 5,000 micro, small, medium and large industries are operating in the plastic sector across the country, it said.
There are 4,000 plastic manufacturing companies in Bangladesh that employ more than two million people, directly and indirectly.
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