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US$22m orders placed till closing of International Leather Fair
January 30, 2001
Dhaka-- (Bangla2000) – Finance Minister Shah AMS Kibria tonight (Monday night) assured of slashing duty on accessories required for leather products to make them competitive in the world market.
“Nobody informed me about high duty on the components…If any, I agree to cut it substantially,” he told the closing ceremony of Dhaka International Leather Fair (DILF) 2001 at Hotel Sonargaon.
Around 20 percent accessories need to be imported to manufacture leather goods, the meeting was told.
“But, you should not make profit from the government instead of from the business,” the minister advised the manufacturers of leather products
Commerce secretary Golam Rahman, Export Promotion Bureau executive chairman AB Chowdhury and Bangladesh Finished Leather, Leather Goods and Footwear Exporters Association (BFLLFEA) president Sattar Bhuiyan also spoke at the function.
Kibria said leather sector is playing an important role in the country’s export earning but could not yet achieve what it deserved having the potentials.
Export earning from the leather sector registered an average 15 per cent growth for last one and a half years.
“The entrepreneurs should take care in this regard…Standard of a product depends on the entrepreneurs,” said the finance minister.
Kibria also advised the entrepreneurs to export leather with value addition as much as possible and assured all support from the government.
“I’m ready to give more money to the Equity Development Fund for the sectors where potentials are there,” he said.
About shifting of tanneries from Hazaribagh area, the minister said the government will provide support to this purpose but the entrepreneurs should take a bold decision.
Some 79 local and foreign enterprises participated in the 3-day fair to display finished leather, leather goods and footwear.
Around 400 foreign businessmen and tourists from 25 countries visited the fair, DILF sources said.
Foreign buyers placed spot import orders of USD9.50 million at the fair. Local enterprises also secured a probable order of USD12.50 million.
Last year’s DILF secured spot orders of USD8.5 million while probable orders were of USD12 million. Buyers placed spot orders of USD7.40 million in the first DILF.