'Made in Bangladesh' fair highlights efforts to boost domestic auto, agro industries
Industries adviser urges local manufacturing to reduce import dependency
Industries adviser Adilur Rahman Khan has called for a reduction in import dependency by manufacturing automobiles and agro machinery domestically to create jobs and ease pressure on foreign currency reserves.
Adilur made the remarks as the chief guest at the inauguration of the "Road to Made in Bangladesh and Agro Machinery Fair 2025" event in Dhaka's Tejgaon today (20 September).
The two-day exhibition features 26 stalls from the automobile, agricultural machinery, and light engineering sectors, along with 12 from supporting industries.
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According to the adviser, the agriculture, automobile, and light engineering sectors are crucial for the economy.
"The government is providing support to advance these sectors through various policy and infrastructure initiatives. We believe this fair will boost confidence among new investors, and the Ministry of Industries will offer further assistance to help these sectors grow," he said.
Masrur Riaz, chairman of Policy Exchange Bangladesh, highlighted the need for domestic production, noting that the country's open market began in 1978-79. He pointed out that the instability in the dollar market since June 2022 has led to strict import restrictions.
"The current reliance on foreign automobile imports is creating pressure on our economy. As the domestic market expands, we must advance the automobile sector at home, which requires government policy support," Riaz explained.
Anwar-ul Alam Chowdhury, president of the Bangladesh Chamber of Industries (BCI), mentioned that the event was organised to promote the automobile and agricultural industries.
"We are trying to advance the light industries sector. While we are not yet ready for a sustainable economy, we must prepare gradually," he said.
The BCI president noted that garments, agriculture, and remittances are the three pillars of the country's economy, with 83% of export earnings coming from the garment sector.
He also praised the current government for its efforts to improve the banking sector and combat money laundering, stating that the consistent positive growth in remittances and the curbing of illicit financial flows are positive signs for the economy.
