The plastic goods export sector in Bangladesh has witnessed a remarkable threefold increase in the past 13 years, a testament to the nation’s burgeoning local production adhering to global standards. Shamim Ahmed, the President of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA), made this announcement, revealing that Bangladesh’s plastic goods exports surged to $209.86 million in the fiscal year 2022-23, marking a substantial rise from the $68.76 million recorded in 2010-11, as per BPGMEA data.
Notably, Bangladesh has ascended to become the 12th largest exporter of plastic products globally, with promising prospects for continued growth. President Ahmed shared these insights during a press conference held at the BPGMEA’s office in Dhaka. The occasion served to unveil the agenda for the upcoming International Plastic Fair (IPF), a four-day event slated to commence on January 24.
Anticipated to attract participation from 20 countries, including major players like China, the USA, India, and the UAE, the IPF is a pivotal event that is expected to facilitate increased investments and contribute to the expansion of market size. The BPGMEA, in collaboration with Yorker Trade and Marketing Service Co Ltd., is orchestrating the exhibition.
This influential event will host around 300 foreign companies occupying 700 stalls, alongside 54 local companies presenting their products across 161 stalls. The IPF stands as one of the most significant events in South East Asian countries, poised to enhance Bangladesh’s global standing in the plastic industry.
President Ahmed emphasized that, in addition to showcasing modern products, the fair would feature new machinery crucial for bolstering the local plastic sector’s resilience against future challenges.
Presently, Bangladesh’s plastic goods makers export their products to 126 countries, including key markets like the USA, Canada, and various European Union nations, in addition to prominent Asian nations such as China, India, and Nepal.
The local plastic sector is experiencing robust annual growth at a rate of 20%, with new plastic factories being established each year. This growth not only introduces new models and high-quality products to the market but also establishes plastic as an indispensable global commodity. The BPGMEA president’s comprehensive update underscores Bangladesh’s pivotal role in the dynamic and ever-expanding global plastic arena.
