Businesses seek govt support to boost country's chemical industry 

Business leaders underscored the need for government assistance to promote the chemical industry, foster domestic production capabilities, and reduce reliance on imports.

At a recent meeting of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) standing committee on chemicals and perfume, they said Bangladesh's chemical market holds vast potential, given the extensive use of chemical products across various sectors including food, agriculture, and ready-made garments. 

They emphasised the need to establish local chemical factories to reduce reliance on imports and unlock the industry's full potential.

FBCCI President Mahbubul Alam stressed the importance of responsible chemical use, stating, "Chemicals are essential for many industries, but their use must be carefully planned and regulated." 

He advocated for streamlining the process of obtaining trade licenses for chemical warehouses and factories, highlighting the cooperation needed from the government in land allocation and licensing procedures.

Mahbubul Alam also expressed FBCCI's commitment to working with relevant government authorities to address the challenges and unlock the potential of the chemical industry.

Md Amin Helaly, senior vice president of FBCCI, stressed collaboration between the government and private sector. He pointed towards the Bangladesh National Authority for Chemical Weapons Convention as a strong platform for facilitating this collaboration and propelling the growth of the chemical industry.

Niaz Ali Chisty, director-in-charge of the committee, highlighted the opportunity to not only reduce imports but also establish Bangladesh as a chemical exporter.

However, he stressed the importance of implementing proper controls and recycling mechanisms to prevent accidents associated with chemical use.

Mohammad Ullah Palash, Chairman of the FBCCI's Standing Committee on Chemicals and Perfumery, emphasised the crucial role chemicals play as raw materials for various industries. 

He encouraged the next generation to take the initiative in establishing chemical factories, aiming to reduce import reliance and boost exports.