FT Online

Published:
2019-07-07 12:13:48 BdST

MoI finalises leather goods development policy draft


The Ministry of Industries (MoI) has prepared a draft of the Leather and Leather Goods Development Policy 2019, officials said.

The MoI has prepared the draft policy for development of the leather sector after scrutinising recommendations of 25 different ministries.

"We have finalised a draft of the Leather and Leather Goods Development Policy 2019, considering potentials of the sector to contribute to the country's economy," they also said.

The ministry will soon send the draft policy to the Cabinet Division for approval by the cabinet, they added.

In the proposed policy, priority is given to three categories - finished leather, footwear/ shoes, and leather goods/ products.

The draft policy also suggests providing the same facilities like the ready-made garment (RMG) sector to the leather sector, the second largest export-earning sector of the country.

The proposed policy also suggests offering speedy customs clearance services to the leather and leather goods exporters.

It also recommends joint collaboration between the MoI and the Department of Environment for expediting the sector's development.

Bangladesh meets about 10 percent of the total demand of the world's total leather market.

The country's leather industry produces various products such as shoes, belts, bags, jackets, suitcases, wallets and some other fancy items for selling in domestic and foreign markets.

Bangladesh exported leather and leather goods worth US$ 1.23 billion in the fiscal year 2016-17, according to the Export Promotion Bureau of Bangladesh (EPB) data.

The government considers leather goods and footwear as one of the main growth generators of the country.

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