Bangladesh eyes $10b exports in leather goods in 2030
Commerce Minister Tipu Munshi has said the government eyes US$10 billion in exports of leather and leather goods in 2030.”Bangladesh’s potential export product is leather. There is a lot of scope for the development and export of the leather industry. Currently, the export of the leather sector is more than $1 billion. In 2030, this export maybe $10 billion,” he said.The minister said this while speaking as the chief guest at an inauguration ceremony of the three-day ‘Leathertech-2022’ at International Convention City Bashundhara (ICCB) in the city, reports BSS citing a press release.Leather goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) organised the expo.In his speech, Tipu informed that the government is establishing 100 economic zones in important places across the country and it is possible to easily develop the leather industry in the economic zones.”We have raw material and skilled manpower. By using new technology, we can take the leather industry a long way. There is a huge demand for leather products in the international market,” he added.
Market diversification: A shield yet to be strong enough to protect investors
Thousands of investors burnt their fingers in the stock market debacles in 1996 and 2010, and many of them are yet to recover from the financial damages inflicted on them in the latest incident.They see the value of their assets is still less than their investment, a factor discouraging enough for liquidation of securities.The negative equities in investors’ portfolios currently amount to Tk 46.59 billion, and so the liquidity flow in the money market must be impacted or reduced by nearly as much.Until the latest market crash, the capital market stood only on equity-based securities. That raises a question whether investors could have cut down investment risks had they have diversified products to put their money on.Examples of other countries indicate that a diversified market protects investors better from market volatility. They create multiple options for investments by introducing products, such as bonds, ETF (exchange traded funds), Sukuk (Shariah-compliant bonds) etc. Risk with equity shares is usually higher than with others.
Non-leather footwear exports can reach $1b by 2025
Exports and domestic sales of Bangladesh’s synthetic and athletic footwear sector have been witnessing some of the highest growths among those of other sectors, according to a market assessment of Bangladesh Investment Development Authority (Bida).Exports have been increasing at an average annual rate of about 20 per cent over the last six years thanks to increased demand from global brands, said insiders of the industry and Export Promotion Bureau.During the July-November period of the current financial year, non-leather footwear shipments bagged $209.50 million in export earnings, up by roughly 19.44 per cent year-on-year.The industry’s annual export earnings reached $449.15 million last year, a year-on-year gain of a whopping 30.39 per cent, shows data from the Export Promotion Bureau.
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