Boost light engineering

Prime Minister Sheikh Hasina yesterday inaugurated the 25th Dhaka International Trade Fair (DITF), announcing the “Light Engineering goods” as “Product of the Year” for 2020.

“As a part of export policy, we are declaring Light Engineering [goods] as the product of 2020 aimed at encouraging the product based export while we are calling for more investment,” she said.

The premier said this while opening the month-long DITF-2020, jointly organised by Commerce Ministry and Export Promotion Bureau, at Bangabandhu International Conference Centre (BICC) in Dhaka.

She simultaneously stressed the need for taking appropriate measures to strengthen the light engineering sector and help explore its export potential.

The prime minister said that the light engineering products such as bicycle, motorcycle, automobile, auto-parts, electric and electronics, accumulator battery, solar photovoltaic module and toys have the potential of attracting more investment.

She said importance were earlier given on leather and leather goods, jute and jute goods and other products, adding, “But, this year we are giving importance on the light engineering as it has also huge potential of attracting investment.”

The premier opened the trade fair by cutting ribbon to formally begin it on around 26 acres of land at Sher-e-Bangla Nagar in the city.

She later visited different stalls and pavilion, including the Bangabandhu Pavilion, installed at the venue for presenting the life and works of Father of the Nation Bangabandhu Sheikh Mujibur Rahman marking the celebration of

 Bangabandhu’s birth centenary.

Commerce Minister Tipu Munshi, Chairman of the Parliamentary Standing Committee on Commerce Ministry Tofail Ahmed, Secretary of the ministry Dr Md Jafar Uddin, Federation of Bangladesh Chambers of Commerce and Industry

 (FBCCI) President Sheikh Fazle Fahim and Vice Chairman of Export Processing Bureau (EPB) Fatima Yasmin, spoke on the occasion.

Around 483 stalls and pavilions, including premium, foreign and mini foreign pavilions, have been set up in the fair venue.

The fair will be open to visitors from 10:00am to 9:30pm. The entry fee for adults is Tk 40 and Tk 20 for minors.

Traders from over 21 countries, including India, Bhutan, Pakistan, China, the United States, the United Kingdom, Nepal, Japan, Australia, Germany, Hong Kong and Arab Emirates are taking part in the fair.

During the inauguration ceremony, Sheikh Hasina said her government gave priority to the production of agro-processed and handloom items to expand the export basket, adding, “We are giving special attention to the sectors due to

 having their potential in terms of export.”

The premier also stressed the need for exporting not only the raw materials but also the processed products to increase export of the agro-processed items, frozen lobsters, frozen fish, mango, and potato.

Noting that the number of export oriented products is increasing, she said, “We are now exporting 766 products in 202 countries while the export products and service now stands at $ 46.87 billion.”