A three-day leather goods trade show will commence in Bangladesh on Wednesday. The exhibitors also include leather machinery, chemicals, and accessories named “Leathertech Bangladesh 2022” which will be held at the International Convention City Bashundhara.
Nearly 200 exhibitors from 10 countries with the Council for Leather Exports (CLE) and Indian Footwear Components Manufacturers Association (IFCOMA) pavilion from India will participate in the event. The global market for leather goods is projected to reach a revised size of $318.2 billion by 2027, growing at a CAGR of 4.1 percent. The share of footwear will grab a share of $116.1 billion by end of 2027 at a projected CAGR of 4.8 percent.
Bangladesh currently exports leather goods worth a little below $1 billion. The government of Bangladesh is working on a 10-year plan to take leather and leather goods to $10-12 billion by the year 2030. This ambitious 10-fold growth plan looks achievable as the exports of leather goods increased by 18 percent in 2020-21 and in the first seven months of the current fiscal year grew by 30 percent.
The event has the full support of Bangladesh Tanners Association, Leather-goods, and Footwear, Bangladesh Finished Leather, Exporters Association, Bangladesh Paduka Prostutkarak Samity, ASK Trade and Exhibitions Pvt Ltd in association with Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB). Bangladesh Minister for Commerce Tipu Munshi is likely to inaugurate the three-day trade show.
