Exporters fear Tk12,000cr loss from Dhaka airport fire, place six-point demand
It is still difficult to accurately determine the total loss suffered by exporters, says EAB President Mohammad Hatem
Highlights:
- EAB says the blaze has shaken foreign buyers' confidence
- Full loss to be known after investigation
- EAB unveils six-point demand to government
- Demands include insurance payouts and Cargo Village upgrade
- Exporters urge stronger airport security
- Fire a "serious warning" for export sector, says EAB president
Exporters fear losses of around Tk12,000 crore following the fire at the Cargo Village of Hazrat Shahjalal International Airport in Dhaka, according to a preliminary estimate by the Exporters Association of Bangladesh (EAB).
The association expressed deep concern over the extent of the damage and said foreign buyers have also become worried following the incident.
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At a press conference today (20 October), EAB President Mohammad Hatem, who also heads the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), announced a six-point demand to the government in response to the incident.
Hatem said it is still difficult to accurately determine the total loss suffered by exporters.
"The direct loss is from the goods burnt in the fire, but this is not the only damage. The raw materials destroyed in the blaze will prevent the production of export-ready goods, which will lead to even greater losses," he said.
"We are sending urgent messages to our members to determine the extent of the damage, but a full picture is yet to emerge. The actual scale of loss can only be known after a transparent and complete investigation," he said, adding, "Nevertheless, our preliminary estimate is — all in all, a loss of approximately one billion dollars or Tk12,000 crore has occurred."
He noted that the incident has created uncertainty among foreign buyers, potentially affecting future export orders.
"We are apprehensive, and our foreign buyers are also concerned," he said, adding that import-export activities are expected to be hampered for the next few days.
"There is a risk of losing market positions, a decline in buyers' confidence, and potential damage to international contracts."
"We are sending urgent messages to our members to determine the extent of the damage, but a full picture is yet to emerge."
Mohammad Hatem, president of Exporters Association of Bangladesh (EAB)
Hatem said the fire at the Cargo Village of Hazrat Shahjalal International Airport, one of the country's most vital infrastructures, serves as a serious warning for the business community and export-oriented industries.
"Such incidents clearly show that the security system at the Cargo Village is not sufficiently effective and poses a major security risk," Hatem said. "Similarly, Hazrat Shahjalal International Airport itself is also at risk from a security perspective."
The EAB urged the government to take immediate measures to assess the losses, ensure compensation, and strengthen safety protocols at the airport's cargo handling facilities to prevent similar incidents in future.
Industry representatives called on the government to swiftly implement the EAB's six-point demand after completing a full investigation and damage assessment.
The demands include prompt settlement of insurance claims for goods damaged in the fire, formation of a special government fund to compensate uninsured exporters, modernisation and expansion of the Cargo Village with improved security measures, establishment of a separate, air-conditioned warehouse for the pharmaceutical sector, construction of a chemical warehouse at a safe distance, and full automation of Cargo Village warehouse management using modern technology.
The press conference was jointly organised by major sectoral organisations, including BKMEA, BGMEA, BTMA, BGPMEA, and associations representing the leather, pharmaceutical, jewellery, frozen food, plastic, silk, handicraft, and other export-oriented industries.
