Dholaikhal-made automobile parts to be exported to US Bangladesh for the first time will export potential light engineering products to the US market, ushering in a new horizon in the country's industrial sector. Initially, three automobile samples---bumper breaker, lower control crown and subar (rubber)---worth 15,000 US dollar (equivalent to Taka about 11 lakh) will be exported to a US company named New Milbert International Inc. The other products including grill, moulding, piston, fender and mirror will be exported to the US market in phases. On the basis of quality assurance of the spare parts, Bangladesh may get export orders worth billions of dollars to the potential US market, Industry Ministry sources said. "Although the order worth 15,000 US dollar is small in size, it is just beginning of entrance to the US market. If we can carry the initiative forward it will be easier to turn the country into a digital Bangladesh as envisioned by Prime Minister Sheikh Hasina," said Industries Minister Dilip Barua at a function in connection with the MoU signing at the BITAC's conference room here.. A tripartite Memorandum of Understanding (MoU) was signed among three sides---the US Company, Bangladesh Industrial Technical Assistance Centre (BITAC) and Bangladesh Engineering Industry Owners Association (BEIOA). President of BEIOA Abdur Razzaque, Additional Director of BITAC Dr Syed Md. Ihsanul Karim and managing partner of New Milbert International Inc Nishan Rahim inked the paper on behalf of their respective sides. With director general of BITAC Ashish Kumar Paul in the chair, the function was addressed, among others, by director of BITAC Shahjahan Ali and president of Bangladeshi Society in New York M Aziz. Dilip Barua said the government is working for turning Bangladesh into an industry-thrived country by discouraging stopping mills and factories like the previous governments did. In doing so, he said, a draft of the long-cherished industry policy has already been formulated. The present administration wants to play a facilitating role instead of regulator and that is why it plans to cut export tax of entrepreneurs, said Dilip Barua. The industries minister underscored the need for ensuring quality of products rather than maximizing profit.Nisham Rahim termed the order as a simple and said the order could be billions of dollars if the government provides the exporters with necessary supports including 10 percent cash incentive and low interest rates. Dr Ihsanul Karim said there is no alternative to implement Vision- 2021 to make the country industrialized. He suggested for engaging the large number of the country's manpower in the potential light engineering sector. Abdur Razzaque claimed that the sample products to be exported to the US market are as good as the products of Taiwan and India. He listed infrastructures and utility shortages as major hurdles in the way of making more foreign direct investment (FDI) in the country. |
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