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The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the businessmen to ensure the quality of domestic products in order to utilise the potential of global market for electronics products.
"We must ensure the quality of domestic products in order to utilise the potential of global market for electronics products," FBCCI President Md Jashim Uddin said at a meeting of the apex trade body's Standing Committee on Electrical and Electronics Merchandise at the FBCCI office on Saturday.
The country was totally dependent on imports of electrical products in the past, but domestic products have now about 80 per cent of local market share, he said, adding that compliance is a big issue for the development of this sector.
He also said, "It is possible to supply electrical products to the world market if we can ensure quality products."
The FBCCI chief further said that all companies, be it big or small, are contributing to the economy of the country.
The government is also providing necessary support to keep the small traders afloat, he added.
"We also need to cooperate in formulating policies for them," he pointed out.
"We should work for the development of the whole sector, not only for our own business," he said and urged the businessmen to focus on the establishment of backward linkages.
"We should provide full cooperation to those sectors, including electrical, which can generate revenue through exports," said senior Vice-President of FBCCI Mostofa Azad Chowdhury Babu.
FBCCI's Vice President and also Director-in-Charge of the Committee M A Razzak Khan said that there are policies in almost all sectors, including garments and leather, except this electrical and electronics sectors.
As a result, most of the companies in the country are in recession except a few, he said.
"If the small and medium entrepreneurs could not survive, they would fail to repay the loans extended by the banks. As a result, both the banks and the entrepreneurs will suffer," he added.
President of Bangladesh Television Manufacturers Association and Co-chairman of the committee Md Sohel Khan demanded a separate industrial zone for assembling television sets and SRO facilities for this sector.
FBCCI's panel advisor and co-chairman of the committee, Dr Kazi Iqbal said that due to lack of research and sufficient data, the electrical and electronics sector in Bangladesh is not growing significantly.
The meeting was chaired by former director of FBCCI and chairman of the committee Engr Mohd Mohabbat Ullah.
Citing the lack of data in the electronics sector, he informed the meeting about his plan to create a database in the sector on his own initiative and sending it to the government through FBCCI.
At the meting, other members of the committee placed various demands at the meeting, including government incentives on the manufacturing of safety and security equipment, increasing the use of locally-manufactured cable in government projects, setting up hubs for electrical and electronics products in Dubai or Africa, and 15 per cent cash incentives from the government on this sector.