As the gold sector is turning into a large-scale industry from a cottage industry in the country, the entrepreneurs underscored the need for preserving the skilled manpower of the sector apart from carrying out market research on specialized economic zones and export of gold items.
They said this at a seminar organised on the second day of the three-day BAJUS Fair 2023. Bangladesh Jeweller’s Association (BAJUS) organised the expo at International Convention City Bashundhara (ICCB) in the capital.
In his speech as the chief guest, Foreign Secretary Masud Bin Momen on Friday (Feb 11) said the government will provide all-out support for the export of gold with technology transfer in collaboration with global institutes and foreign missions.
He said: “On our part, we’re ready to support technology transfer and international trade for the gold industry. We’ll do everything to boost export earnings in line with the economic diplomacy of Prime Minister Sheikh Hasina.”
The foreign secretary mentioned that government has provided policy support for manufacturing gold products locally.
“Bashundhara Group is setting up the country’s first gold refinery. This will create more employments and help flourish the local market,” he said.
“The Ministry of Foreign Affairs has been laying emphasis on economic diplomacy as per the directives of Prime Minister Sheikh Hasina. If we can connect with globally reputed institutes in the gold industry, our local industry can reap the benefits of knowledge sharing and modern technology transfer.”
Masud Bin Momen also mentioned the suggestion of DCAB President Rezaul Karim Lotus to enhance collaboration with foreign mansions to find potential export markets for gold abroad.
In his speech, Export Promotion Bureau (EPB) Vice-Chairman AHM Ahsan invited the gold businesses to participate in international expos being organised by EPB abroad to expand the global market of Bangladeshi gold jewellery.
Policy Exchange Chairman Dr Masrur Reaz in his keynote presentation projected a 12 percent year-on-year growth of Bangladeshi gold industry with an increasing local demand. “According to the forecast, the market will grow at 12.1 percent yearly until 2030. So, the market size in 2030 will be of $21 billion,” he said.
President of India-Bangladesh Chamber of Commerce and Industry (IBCCI) Abdul Matlub Ahmad suggested recognising the artisans and craftsmen of the jewellery industry to take the sector to the next level.
Chittagong Stock Exchange (CSE) Chairman Asif Ibrahim hoped that the commodity exchange at the bourse will start with gold bullion soon in collaboration with ABG Limited of Bashundhara Group.
ABG Limited, a sister concern of Bashundhara Group, became key strategic partner of CSE in November last year.
Former BAJUS President Dilip Kumar Roy presided over the session moderated by its adviser Ruhul Amin Rasel.
BDST: 1217 HRS, FEB 11, 2023
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