Govt to provide policy support to plastic toy industry: Commerce secy

The government will offer policy support to help grow the plastic toy industry, said Commerce Secretary Mahbubur Rahman, adding that expanding exports will require high-quality, competitive products.

He made the statement at the opening ceremony of the two-day "Plastic Toy Exhibition Fair," which started today (22 May) at the InterContinental Hotel in Dhaka.

The fair is jointly organised by the Bangladesh Plastic Goods Manufacturers and Exporters Association and the Ministry of Commerce's "Export Competitiveness for Jobs" project. A total of 42 large and small companies are participating in the event to display their products.

Secretary Mahbubur Rahman said the plastic toy industry in Bangladesh has made notable progress in recent years. "We are now making high-quality toys that are being exported to many countries. This industry has great potential," he added.

He also said the government, with support from the World Bank, is working to develop the overall plastic industry. In the same way, the toy industry will receive policy support. However, he stressed that this support must be used wisely, and to succeed in global markets, it is crucial to produce top-quality, competitive toys.

Shamim Ahmed, president of the Bangladesh Plastic Goods Manufacturers and Exporters Association, said, "The plastic sector is an emerging industry in Bangladesh. It plays an important role in many areas like agriculture, pharmaceuticals, food processing, and greenhouses."

He added that Bangladesh exports plastic products worth about USD2.5 billion every year, including both direct and indirect exports.

Shamim Ahmed also said, "Now, the country produces not only intermediate products but also primary raw materials."

Currently, Bangladesh makes around 1.5 lakh tonnes of PET, 150,000 tonnes of PVC, 2,000 tonnes of specialty-grade PET, and recycled materials like r-PP, r-PE, r-PS, and UMC (used in electric switches and engineering products) every year.

He added, "A decade ago, 80% of the country's toy demand was met through imports. Today, 80% of toys are made locally, and only 20% are imported. Investment in the toy industry is now about Tk4,500 crore and could double by 2030."

He urged Bangladeshi embassies abroad to help promote the export of toys and other plastic products. Representatives from 18 Bangladeshi embassies worldwide took part in the event.

Referring to Sonic Bangladesh, a subsidiary of the Hong Kong-based Sonic Group, Secretary Mahbubur Rahman said the company, based in the Uttara EPZ in Nilphamari, produces over 10 lakh die-cast toys each month, which are exported to Europe and Japan. "In 2023, their exports reached USD43.17 million—the highest among all toy exporters in Bangladesh," he noted.

He also highlighted Cupcake Exports, part of the US-based Cupcake Group, which produces fabric-based toys. "Since starting in 2019, the company has grown rapidly, and by this year, its exports are expected to reach USD2.5 million," he said.

Toy manufacturing, he added, is now one of the fastest-growing parts of the plastic industry. "There are 147 toy factories in the country, both large and small, mostly located in Kamrangirchar, Lalbagh, Islambagh, Chawkbazar, Gazipur, Keraniganj, Old Dhaka, and various EPZ and EZ areas."

He further said, "This sector has already created 20,000 jobs, and 80% of the workers are women." Current export earnings from toys stand at USD36 million, but he believes that with the right support, this figure could reach USD1 billion within the next five years.

If exports grow by 24% each year, Bangladesh's toy export earnings could reach about USD466.31 million by 2030. This would make Bangladesh the 28th largest toy exporter in the world.

Right now, Bangladesh exports toys to India's Seven Sister states, Nepal, Bhutan, as well as to countries like the United States, Japan, Singapore, Spain, Italy, France, and other parts of Europe and developed nations. There is also a chance to enter markets in Latin America, the Middle East, and Africa in the future.

However, exports to the Seven Sister states are facing difficulties because of import restrictions imposed by India.