‘Plastic industry lacks investment’

Speakers at webinar on plastic sector on Wednesday observed that despite huge potentials for export as well as local consumption, the industry could not grow for lack of adequate investment. They said that by maintaining a sustainable and environment-friendly standard and policy, Bangladesh has a good potential to grow its plastic industry like readymade garment.

“The government provides adequate policy support and is ready to extend more support to the plastic industry, but entrepreneurs have to come forward to invest in the sector”, said Mahbubur Rahman, Director General (DG) of Export Promotion Bureau (EPB), at the virtual seminar.

The seminar tiled: “Plastic Sector Development, Diversification & Challenges for Export” was jointly organized by Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) and Export Promotion Bureau (EPB).

Ferdaus Ara Begum, chief operating officer of BUILD, presented a keynote on the issue, while the online seminar was also addressed by BPGMEA president Shamim Ahmed, vice president Kazi Anwarul Haque, FBCCI advisor Munjur Ahmed and joint secretary of the Commerce Ministry Abdur Rahim Khan.

In her presentation, Feraus Ara said Bangladesh shares only 0.1 percent of the global $600 plastic goods export market where products go through direct and deem processes. A big quantity of plastic goods is being exported to the USA and European market through backward linkage products of the RMG, she said. She said India has been much ahead of Bangladesh in plastic goods export due to a comprehensive plan and policy support.

She said the US, China, Japan and EU market remained untapped for Bangladesh plastic goods export despite having its GSP facilities while local consumption is still low compared with other neighbouring nations.  

“We have to design plastic products which would be sustainable without harming the environment while a good recollection and recycling policy have to be introduced in this regard”, he added. BPGMEA president Shamim Ahmed said though there is a global campaign against plastic, the reality is that its use is globally growing.

“The problem of plastic is not its use, but lack of proper management for recycling and recollection procedures”, he added. He said the globally practiced extended producers’ responsibility (EPR) has to be introduced in the country to ensure the plastic waste is being recollected and recycled. He also said as the brands are the end seller of plastic goods, they have to bear the responsibility of recollecting the waste products through incentives.

BPGMEA vice president Qazi Anwarul Haque said it is impossible to take advantage of the untapped global market without diversifying products. He said the country has low cost labours and now it needs digital technology and equipment for manufacturing attractive goods.

Joint secretary of commerce ministry Abdur Rahim Khan  said Bangladeshi manufacturers have to learn about the legal and regulatory framework of different countries to export its plastic products as there is a global campaign against the plastic use. “We have to be environmentally and socially compliant to those policies before going to export our products”, he opined.