The Principal Secretary of Bangladesh Prime Minister Sheikh Hasina, M Tofazzel Hossain, has expressed optimism that the export earnings from the leather sector could reach US $ 5 billion by 2027 with the establishment of a conducive environment.
This is as per reports, which claimed, the Prime Minister’s Office (PMO) has recently instructed relevant authorities to work towards increasing the export of leather and leather goods to US $ 5 billion within the next 3-4 years, surpassing the current earnings of US $ 1.7 billion even if the directive was issued during a meeting at the PMO in capital Dhaka, focusing on enhancing the environmental compliance of tanneries in Savar, central effluent plant (CETP), and solid waste management to meet the standards set by the Leather Working Group (LWG).
Presided over by the Principal Secretary, M Tofazzel Hossain Miah, the meeting saw the participation of high-level Government officials, including the industries secretary and the chairman of Bangladesh Small Cottage and Industries (BSCIC) even as representatives from tannery owners, leather goods manufacturers, Bangladesh Tanners’ Association, and Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh also took part in the discussions.
During the event, the Principal Secretary emphasised the importance of rectifying and upgrading the CETP in Savar Tannery Estate to meet the global compliance standards even as he highlighted that the current export earnings from the leather and leather goods sector stand at approximately US $ 1.7 billion but emphasised that reaching US $ 5 billion within the next 3-4 years is attainable through the creation of a favourable environment.
Tofazzel Hossain expressed confidence that the leather sector’s export earnings could indeed reach US $ 5 billion by 2027 if both the public and private sectors work collaboratively to establish the required conditions even as acknowledged that compliance is a crucial factor and stressed the need to align the country’s leather sector with international standards, as advocated by the Leather Working Group (LWG), a global multi-stakeholder community dedicated to promoting sustainable and responsible leather practices.
