BM Report:

Bangladesh’s plastic goods exports have tripled in 13 years, thanks to the rising local production of such items of global standards, Shamim Ahmed, president of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) said Monday. “We’ve come a long way,” he declared at a press conference today. “Exports reached $209.86 million in 2022-23, more than three times the $68.76 million we saw in 2010-11.”

This remarkable jump has propelled Bangladesh to the 12th place in the global ranking of plastic product exporters. “Bangladesh is now the 12th largest exporter of plastic products in the world and the country has the potential to do a lot better in the days to come,” Ahmed said.

The impressive growth will be on full display at the upcoming International Plastic Fair (IPF) in Dhaka starting January 24th. The four-day event, jointly organized by BPGMEA and Yorker Trade and Marketing Service Co Ltd, promises to be a major step forward.

“The IPF will showcase not just innovative products but also cutting-edge machinery, helping our industry face future challenges,” Ahmed emphasized. Some 300 foreign companies from 20 countries, including China, India, Vietnam, and the United States, will exhibit their latest offerings alongside 54 local companies. The event, one of the biggest in Southeast Asia, aims to attract investment and expand the market.

Local plastic goods makers at present export their items to 126 countries, including USA, Canada and different countries in the European Union along with China, India and Nepal. “The local plastic sector is growing at 20 percent annually and every year new plastic factories are being established in the country,” Ahmed said.

New models and high-quality products are coming to the market and plastic has now emerged as an indispensable product in the global arena, he added. “The IPF is one of the biggest events in South East Asian countries and it will help in attracting more investment and expanding the market size,” Ahmed concluded.