Local toy makers cranks up production
04 March 2015, Nirapad News: The dependence on toy import continues to go down as local makers have cranked up production, sector insiders say.
They say local producers have the potential to meet domestic demand, replacing the imported toys, the bulk of which comes from China.
Bangladesh Toy Merchants, Manufacturers and Importers Association has estimated that the annual market for toys is worth more than Tk 50 billion (5000 crore).
The BTMMIA said in recent years, production capacity of local manufacturers has been growing significantly, helping the local toy producers meet more than 35 per cent of the demand.
More than 1,000 toy factories are playing a vital role to meet a big share of the domestic demand and most of the toys factories are operating in areas Old Dhaka’s Keraniganj, Chowk Bazar and Lalbagh, Chittagong, Bogra, Saidpur in Nilphamari.
The sector players said the manufacturers are ready to enter the export market after meeting the local demand, if the government extends its support.
“Since we’ve been manufacturing quality toys, the tendency to import foreign items is falling,” Md. Zahidul Haque Zahid, general secretary of the association told the FE.
He said a number of new entrepreneurs are turning to toys manufacturing considering the product’s demand in local markets.
Mr Zahid, said local manufacturers are now producing more than 100 items of toys as production capacity is increasing.
He said alongside the local toys, the Chinese products are also dominating the market as 65 per cent of toys are being imported from China.
Mr Zahid said within 5 years the import of toys will reduced by more than 90 per cent as every year many new local entrepreneurs are joining the sector.
He said after fulfilling the local demand the manufacturers want to export their products to global markets but need government support in this regard.
Harun-Ar-Rashid of Prity Trading Company, a leading toys manufacturer and importer, said the local toys have the potential to enter the global market as Bangladesh has substantial skilled manpower.
He said local toys can easily seize a good share of the global market at a time when Chinese toy-makers are withdrawing from low-value products and switching over to high-tech items. He said until recently, Bangladesh was overwhelmingly dependent on toys, but the trend has been changing gradually. He said local toys are of good quality and the price is competitive.
The sector has the potential to enter the international markets, if manufacturers get government support, he added.