The Bangladesh government would explore markets in Europe for exporting leather goods as the coronavirus outbreak has affected trade with China, according to Industries Minister Nurul Majid Mahmud Humayun, who recently said a proposal would be forwarded to the Bangladesh Bank to ease loan facility for raw hide traders ahead of the Eid-ul-Azha festival.

He was addressing media persons after a task force meeting on leather industry in Dhaka that was also attended by commerce minister Tipu Munshi.

The tanners did not clear a huge amount in dues last year because of which raw hide traders faced a cash crunch. The government might allow warehouse facility at sub-district level for raw hide traders during the festival, he said.

According to the Export Promotion Bureau (EPB), Bangladesh earned $1.01 billion exporting leather, leather goods and leather footwear, the only billion dollar export earner after the apparel goods, in fiscal 2018-19. Processed leather exports also declined by 10 per cent to $164.62 million against $183.1 million in the same period a year ago.

However, exports earning from the leather footwear posted a 7.48 per cent growth to $607.88 million, which was $565.6 million in fiscal 2017-18.

Fibre2Fashion News Desk (DS)

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