International News｜Bangladesh Ceramic Companies Urge Government To Impose Additional Tariffs On Imported Sanitary Ware, Ceramics, Tableware
Kitchen & Bath Industry Mainstream Media Kitchen & Bath News
In the name of helping protect the country’s ceramic industry, the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA) urged the government to impose additional tariffs on ceramic imports to discourage the import of expensive goods from abroad. In July, the association submitted a request to the Bangladesh National Board of Revenue (NBR) in this regard, seeking a quick introduction of the measure.
According to BCMEA, Bangladesh has established 70 ceramic tableware, tile and sanitary ware manufacturing companies. Domestic and foreign investments exceeded Tk140 billion. According to the association, the industry meets 85 percent of the domestic demand for such household items.
According to BCMEA sources, the annual value of imports of finished tiles, tableware and sanitary ware exceeds Tk 13.46 billion, completely monopolizing the local market. In this context, the BCMEA has proposed to raise the minimum tariff value, including surcharge, to curb the import of foreign ceramic goods and ease the pressure on foreign exchange.
If the proposal is accepted, hard-earned foreign exchange will be saved, it added. According to the association, in 2019, the market size of ceramic products within Bangladesh is estimated at Tk 3,500 crore.
The Export Promotion Bureau revealed that the sector earned $68.97 million by exporting such products in the 2018-19 fiscal year. Manufacturers sell ceramic products to countries including the UK, the US, Canada and other European and Latin American countries.