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Dhaka hosts int'l plastic fair in October

Bid to offset oil price impact on plastic industry

STAR BUSINESS REPORT
As plastic industry is grappling with high price of raw materials, mostly petroleum by-products, local manufacturers will try to expand market when they organise a four-day international plastic fair in Dhaka from October 5.
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) will organise the show at Bangladesh-China Friendship Conference Centre.
Over the past few weeks, the plastic industry in Bangladesh has been facing the adverse impact of soaring prices of oil and petrochemicals in the international market. Petrochemicals are widely used as raw materials for producing plastic products.
The prices of raw materials have increased by about 30 percent, KM Iqbal Hossain, general secretary of BPGMEA said. According to him, the price of a 25kg bag of raw materials costing Tk 2,000 has shot up by Tk 600 over the last few
weeks.
"As a result, the manufacturers are facing a tough time to keep prices of plastic products under control," the BPGMEA general secretary told The Daily Star yesterday.
Organisers hope the international plastic fair will provide a perfect launch pad for marketing products abroad and help the local manufacturers increase export to make up for their losses incurred from high raw material prices.
The fair will provide a meeting ground for plastic goods buyers and sellers from home and abroad to interact and make business deals. The manufacturers will showcase a wide range of products in the exhibition to attract buyers.
Plastic product manufacturers from India, Singapore, China and Taiwan are expected to participate in the show along with the hosts, Iqbal said.
The BPGMEA secretary said Bangladesh earned Tk 800 crore in foreign exchange in the last fiscal year
from this sector through direct and indirect export.
Bangladesh presently exports shopping bags, overhead water tanks and toys to European countries, USA, New Zealand and Canada, he said.
Plastic furniture, water tanks, garment accessories and packaging items, crockery, household items, sanitary fittings, spare parts of textile and jute mills and toys will be displayed at 125 stalls in the exposition.
The fair will remain open to visitors from 10am to 9pm everyday till October 8. Visitors will be charged Tk 10 as entry fee.
Bangladesh has some 3,000 small, medium and large plastic goods companies creating direct and indirect employment to around 8 to 10 lakh workers.