Prime minister Sheikh Hasina on Wednesday announced light engineering' as the product of the year to give special attention to this sector for earning more foreign exchange through exporting various products.
"I think we’ll be able to earn more foreign currencies by exporting various types of products under the light engineering section," she said.
The prime minister was speaking while inaugurating the month-long 25th Dhaka International Trade Fair (DITF) 2020 from Bangabandhu International Conference Centre (BICC) at its usual venue at Sher-e-Bangla Nagar in the capital.
She said Bangladesh can produce more bicycle, motorcycle, automobile, auto parts, electric and electronic items, accumulator battery, solar photo-vaulting module and toys under the light engineering section.
"We have scope to invite more investment and we have a huge market for the light engineering products," she said.
Commerce minister Tipu Munshi presided over the programme where chairman of the Parliamentary Standing Committee on Commerce Ministry Tofail Ahmed, commerce secretary Jafar Uddin, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Sheikh Fazle Fahim and Export Promotion Bureau (EPB) vice-chairman Fatima Yasmin also spoke at the programme.
A total of 483 stalls and pavilions will showcase quality products from home and abroad at the fair this year. Of them, 112 are pavilions, 128 mini pavilions and 243 are stalls.
Different companies from 21 countries, including the USA, the UK, Italy, Australia, Germany, China, South Africa, Turkey, the UAE, Malaysia, Thailand, India, Pakistan and Brunei will take part in DITF.
The fair will remain open from 10:00am to 9:30pm every day till 31 January. Entry fee has been fixed at Tk 40 for the adults and Tk 20 for children, an increase of Tk 10 from last year.
The export earnings from the fair were $ 19.46 million last year. The earning was $ 35.5 million in 2018, according to the Export Promotion Bureau (EPB).
The traditional month-long fair, starting on the first day of the New Year of the Gregorian calendar, has been jointly organised by the EPB and the Commerce Ministry since 1995.