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FGD on “Diversifying the Export Basket: Innovation, Export Potential and Market Expansion of the Toy Manufacturing Industry”
Although the global toy market exceeds USD 100 billion, Bangladesh’s export stands at only USD 77 million. Due to lack of necessary policy support, high tariffs on raw material imports, absence of bonded facilities, inadequate infrastructure, insufficient testing facilities, the potential of this sector remains largely untapped, said DCCI President Taskeen Ahmed. To utilize the immense potential of this growing sector, he stressed on more involvement of the education sector in innovation and enhanced coordination among government agencies.
He expressed these views at a focus group discussion on “Diversifying the Export Basket: Innovation, Export Potential and Market Expansion of the Toy Manufacturing Industry” organized by the Dhaka Chamber of Commerce & Industry (DCCI) on September 23, 2025. Muhammad Mubinul Kabir, Member (Customs: Policy & ICT), National Board of Revenue (NBR) and Martin Dawson, Deputy Development Director, British High Commission to Dhaka attended the programme as special guests.
In his welcome remarks, DCCI President Taskeen Ahmed said that export diversification is extremely crucial for developing countries like Bangladesh, but over the years, Bangladesh’s exports have been highly dependent on a few products. He mentioned that the global toy export market is worth USD 102.8 billion and by 2030 it will reach USD 150 billion, whereas Bangladesh’s export in this sector is only USD 77 million. Due to lack of international buyers, insufficient testing facilities, limited access to international markets, dependency on imported raw materials with high tariffs, inadequate infrastructure, and lack of supportive policies are major barriers preventing this sector from realizing its full potential, he observed.
Muhammad Mubinul Kabir, Member (Customs: Policy & ICT), National Board of Revenue (NBR) said that in order to survive in the post-LDC era, we need to focus on other potential sectors alongside the RMG sector. To diversify our export basket NBR has been working to simplify policies and extend bonded facilities to the businesses of other potential sectors. He mentioned that the revenue department imposes tariff in accordance with the Tariff Policy formulated in 2023 and the revenue authority aligns its strategies with the recommendations provided by donor agencies to enhance efficiency and strengthen overall capacity. He added that there is limited scope for mid-year policy changes, but during the next budget formulation, the government may consider providing necessary policy support to this sector. He further remarked that although the RMG sector has received policy support for the last 40 years, it is time to rethink its overall capacity; hence toy entrepreneurs should focus more on enhancing their own skills, innovation, and product development rather than solely relying on government incentives.
Martin Dawson, Deputy Development Director, British High Commission to Dhaka said that Bangladeshi toys have immense export potential, and the UK government is keen to cooperate in this regard. If the existing policy barriers are addressed, exports to the UK could multiply significantly, he hoped. He informed that the UK government recently initiated simplification of Rules of Origin requirements, which will help Bangladeshi entrepreneurs expand their exports to the UK. He also mentioned that NBR has already simplified customs clearance for industrial raw materials and removed certain bottlenecks, which will contribute to overall export growth of Bangladesh.
The keynote paper was presented by Shamim Ahmed, President, BPGMEA & Managing Director, Jalalabad Polymer Industries. He said that there are about 5,000 enterprises in the plastic sector in Bangladesh, of which around 250 are engaged in toy manufacturing, employing about 1.5 million people. He added that in FY 2023–24, export from this sector reached USD276 million, while the domestic market is worth nearly Tk.400 billion. In FY 2016–17, toy exports were USD15.23 million, which increased to USD77 million in FY 2022–23 through exports to 88 countries. However, lack of product quality assurance, inadequate infrastructure, absence of research, and lagging behind in innovative design development are major hurdles to growth. For the overall development of this sector, he stressed on cluster development, human resource training for innovation, encouraging joint venture investment, infrastructural development, formulation of toy-specific policies under the existing plastic industry policy, and reducing supplementary duties on necessary machinery.
Md. Juhirul Islam Shimul, Deputy General Manager and Head of Marketing, Redmin Industries Ltd. said that product innovation and bringing novelty in design are crucial in order to sustain in the toy manufacturing sector.
Musa Bin Tareque, General Manager, Hashy Tiger Company Ltd. pointed out that high tariffs on imported plastic raw materials increase production costs which leads to higher consumer prices.
Dr. Abdullah Al Mamun, Deputy Director (Waste and Chemicals Management), Department of Environment (DoE), GoB noted that the government has exempted industry renewal fees for the green and yellow categories of the plastic sector for 5 and 2 years respectively, which will eventually ease business processes. He also stressed on involving academia in research and enhancing capacities in energy, water, and waste management.
Md. Anisur Rahman, Deputy Executive Director, Premiaflex Plastics Limited (ACI PLC) emphasized on proper implementation of tariffs and policies along with lowering bank interest rates.
Yasir Obaid, Managing Director & CEO, Cupcake Exports Limited urged strengthening supply chains, streamlining policies, ensuring intellectual property rights, and improving coordination among government agencies.
Belal Ahmed, Managing Director, Golden Son Ltd. said that due to the absence of a specific policy for plastic-based toy industry, entrepreneurs are deprived of government support, hampering our overall export growth.
Md. Mamun-Ur-Rashid Askari, Joint Chief, International Cooperation Division, Bangladesh Trade and Tariff Commission (BTTC), Ministry of Commerce, GoB urged businesses to adopt Single Window facilities to simplify import procedures and to prioritize intellectual property protection to attract foreign investment.
Dr. Ashoke Kumer Roy, Director (Patents & Industrial Design), Department of Patent, Industrial Design & Trademarks, Ministry of Industries, GoB said that to sustain in post LDC era the businesses need to adapt with the concept of patent, design and trademarks rather copying the designs from global brands.
DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, members of the board of Directors, and industry representatives were present on the occasion.
Published on: 2025-09-23