A Delegation of Bangladesh Plastic Toy Manufacturers participate in Istanbul Toy Fair 2022

Source Plastic Toys from Bangladesh

NEW YORK, NEW YORK, UNITED STATES, March 18, 2022 /EINPresswire.com/ -- A delegation of 6 Plastic Toy Manufacturers of Bangladesh headed by Export Competitiveness for Jobs (EC4J) are participating in one of the biggest Toy Exhibitions in Eurasia named the ‘Istanbul Toy Fair 2022’ being held for the fourth time- from 17 to 20 March, 2022 at the Tuyap Fair & Congress Centre. This is the 4th Edition of this successful exhibition. The EC4J Project has a Pavilion in the Trade Show to promote the rapidly growing Toy Sector of Bangladesh.

The Export Competitiveness for Jobs (EC4J) is a flagship project of the Ministry of Commerce of Bangladesh financed by the World Bank Group. This participation initiative in Istanbul Toy Fair 2022 was organized by EC4J and supported by The Bangladesh Plastic Goods Manufacturers & Exporters Association (BPGMEA) and the Bangladesh Toy Merchants Manufacturers and Importers Association (BTMMIA). This Istanbul Toy Fair 2022 Trade Show participation and the entire Trade Shows EC4J Project is managed by CEMS-Global.

The Participating Companies are 1) Aman Plastic Industries, 2) Doha Toy Industry, 3) Nazrul Toy Industry, 4) Rafid Toys Industries, 5) Silver Toy Limited, and 6) Zihan Toy Industries Ltd.

Industry insiders estimate the market size of the toy industry is no less than 700 Million USD and local toy manufacturing companies have already captured 80 percent of the market share. A number of toys popular with children across the globe are currently produced in Bangladesh. These toys are exported mostly to European countries, where demand is increasing day by day. Made in Bangladesh toys are already available in Netherlands, Spain, Germany, Russia, Japan, Australia, the US, and other countries. Every year, the number of exported toys is increasing, helping the local market expand and earn more foreign currency. Popular toys such as ‘Play and Learn Ball,’ ‘The Explor-a-ball,’ and ‘Blossom Butterfly,’ among others, are made in Bangladesh.

Prior to 2010, there were about 20 small manufacturers in the sector in Bangladesh, employing some 1,500 people. Now, over 40,000 people are directly working in toy manufacturing, according to the Bangladesh Toy Merchants Manufacturers and Importers Association. Locally produced toys have proved popular. Bangladeshis' purchasing power has also increased, especially in the countryside, due to the influx of remittance money from overseas workers. Per capita income increased to $1,610 in the fiscal year ended June 2017 from $1,054 just five years earlier, according to the Bangladesh Bureau of Statistics.
The development objective of the EC4J project is to contribute to the economic diversification of Bangladesh by improving competitiveness and increasing investment in the high potential sectors with a consequential positive impact on trade, export, and employment through different interventions in targeted sectors such as Leather & Leather Goods, Footwear (Leather & Non-Leather), Plastics and Light Engineering (Electronics, Electrical Goods, Bicycle, Automobile, Accumulators, Battery, etc.).

Bangladesh is now known as the new Asian Rising Tiger. It is one of the fastest-growing economies in the world and this has been made possible by multiple policies and incentives by the Bangladesh government and foreign organizations. The country has progressed in terms of infrastructure, social development, technological advancement, improved human resources, better manufacturing quality and cleaner energy. Even the living standard of the country has seen a significant height of improvement. The last decade has given Bangladesh a completely new look. Now, Bangladesh has an eclectic mix of export products & services to offer to the world and do not need to rely only on the RMG industry.

Meherun N. Islam
EC4J
info@ec4j.gov.bd