ZCZC
BSS-06
PM-INCENTIVES-LEATHER
PM announces continuation of incentives in leather sector for 5 more years
DHAKA, Oct 30, 2019 (BSS) – Prime Minister Sheikh Hasina today announced
continuation of incentives in leather sector for at least five more years
aimed at achieving the desired export target of the leather and footwear
industry.
“The incentive in leather sector will be continued for at least five more
years with a view to achieving the desired export target from the leather and
footwear industry,” she said.
The prime minister was addressing while inaugurating the third edition of
three-day Bangladesh Leather Footwear and Leathergoods International Sourcing
Show (BLLISS), 2019 at Bangabandhu International Conference Centre (BICC)
here this morning.
Noting that as part of export diversification, leather sector is being
defined as the priority one in the economy and National Industrial
Development Strategy, she said “Our government, in its last two tenures, has
taken various initiatives such as giving policy support and incentives for
development of the leather and footwear industry.”
“Due to the initiatives taken by our government, 82 percent of foreign
currency is coming from export of leathergoods and footwear in leather sector while factories in this sector is mushrooming alongside increasing the interest of
investing money to this end,” she continued.
She, however, mentioned that king share of foreign currency would come
from export of leathers as raw material a decade ago.
The premier hoped that the country will definitely achieve the target of
earning foreign currency of US $ 5 billion by 2022 from export of leather
goods, which is now $ 1.2 billion.
“If we can export our entire raw leather products by making those finished
ones, we will be able to easily earn US $ 5 billion foreign currency from
this sector by 2022,” she added.
The Ministry of Commerce and the Leathergoods and Footwear Manufacturers
and Exporters Association of Bangladesh (LFMEAB) have jointly organised the
event to attract more investment in the leather sector.
Commerce Minister Tipu Munshi, Chairman of its Parliamentary Standing
Committee Tofail Ahmed, PM’s Private Industry and Investment Adviser Salman
Fazlur Rahman, Commerce Ministry Secretary Dr. Md Jafar Uddin and LFMEAB
President Saiful Islam spoke on the occasion.
Ministers, parliament members, diplomats, dignitaries and the leaders of
different trade bodies were also present.
An interactive audio-video presentation on various sides of the past,
present and the future of Bangladesh’s leather sector was screened at the
function.
MORE/AHJ/GMR/1300 hrs