For a sustainable development of plastic sector in post-LDC era, speakers in a webinar have urged to ease duty structure on import of plastic raw materials, modernization of respective policies, encouraging uses of bio-plastic, signing of Free Trade Agreements (FTAs)or Preferential trade arrangements (PTAs) with potential countries.
They sought some initiatives for booming plastic business and attracting foreign direct investment (FDI) on priority basis for increasing negotiation skills to protect the domestic market, bringing product diversification, development of plastic waste management system, technological advancement, enhancing accredited world class testing lab facilities, and innovative product designing.
Speakers put emphasis on these issues at a webinar on “Sustainable export growth in post-LDC world: strategies for the plastic sector” organized by Dhaka Chamber of Commerce & Industry (DCCI) on Saturday.
Principal Secretary to the Prime Minister Dr. Ahmad Kaikaus joined the webinar as the chief guest. DCCI President Rizwan Rahman chaired the event. FBCCI President Md. Jashim Uddin joined as special guest.
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Dr. Ahmad Kaikaus said that the existing nexus between the public and private sector is stronger than ever that leads Bangladesh to a new height.
In order to identify various prospects and challenges in the plastic sector, he suggested forming a national taskforce combining public and private sector participation.
He also urged for a better plastic waste management solution.
Rizwan Rahman, in his opening remarks said that the plastic sector witnessed a rapid commercialization and became an important export item of Bangladesh.
Export of plastic goods contributes 0.33 percent to the GDP. Around 5,110 companies are operational in the plastic sector and 98 percent of them are SMEs, he mentioned.
“To ensure sustainable industrial growth, a draft Plastic Policy was developed by the Government. Since many preferences will not exist in the post-LDC era, FTA and RTAs can be signed with the potential countries,” the DCCI president said.
“We need to replicate the RMG success model to other export-led manufacturing sectors as well. Product diversification is essential while changing raw materials to recycled plastic waste as a viable alternative,” he added.
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Md. Jashim Uddin, President, FBCCI, Shamim Ahmed, President, Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA), Dr. Md. Shahidul Islam, NBR Member (Customs), Dr. Ijaz Hossain, retired professor of Chemical Engineering, BUET, among others, spoke in the function.