Commerce Minister Tipu Munshi was also present in the task force meeting among others
The government would explore markets in Europe for exporting leather goods as the coronavirus outbreak affected trade with China, said Industries Minister Nurul Majid Mahmud Humayun on Wednesday. “Sometimes there are blessings in disguise and coronavirus could be one of that. Although our leather goods export has been affected by the outbreak, we will now look for new markets in Europe,” he told reporters after a task force meeting on leather industry at the ministry auditorium in the capital. The minister informed that the meeting decided to send a proposal to Bangladesh Bank for easing loan facility for rawhide traders ahead of Eid-ul-Azha. “Last year they faced cash crunch as the tanners did not clear a huge amount in dues. This year we would request the central bank to ease loan facility for the traders,” he added. He also said the government might allow warehouse facility at upazila level for rawhide traders during Eid. “If there is unsold rawhide like last year, we might allow rawhide traders to use government’s own warehouses at upazila level,” he added. Commerce Minister Tipu Munshi was also present in the task force meeting among others. According to the Export Promotion Bureau (EPB) data, Bangladesh earned $1.01 billion exporting leather, leather goods and leather footwear, the only billion dollar export earner after the apparel goods, in the fiscal year 2018-19. Of the total earnings from leather sector in FY19, leather products earned $247.28 million, down by 26.58%. The earning was $336.8 million in the previous year. Processed leather exports also declined by 10% to $164.62 million against $183.1 million in the same period a year ago. However, exports earning from the leather footwear posted a 7.48% growth to $607.88 million, which was $565.6 million in the FY18.
