As Bangladesh seeks to diversify its export basket the focus has been on engineering products and bicycles, which have high demand in the global market.
The government has taken several development projects aimed at developing the sectors to meet growing international demands, according to officials related to the sector. Bangladesh already exports a significant portion of such products in Europe and African markets, reports UNB.
According to the Export Promotion Bureau (EPB), domestic manufacturing companies earned USD $16.80 crore from bicycle exports in the FY 2021-22, an increase by 28.31 per cent from the previous fiscal year.
The Bangladesh University of Engineering and Technology and the National Investment Board estimate that 40,000 small and medium enterprises are running in this sector, providing direct benefit to about 80 lakh people.
Around 400 registered entrepreneurs have set up light engineering industries and related factories in lands provided by Bangladesh Small and Cottage Industries Corporation (BSCIC). The government has also declared the light industry an important sector.
Bangladeshi entrepreneurs are making world-class bicycles and light engineering products, which have high demand in Europe and Africa. The price of a Bangladeshi bicycle is between Tk 5000 to Tk 2 lakh.
The country exports bicycles mostly to Germany, Denmark, the UK, the Netherlands, Portugal, Belgium, Italy, and Bulgaria.
Bd-pratidin English/Tanvir Raihan
