Chinese companies are buying Bangladesh leather at literally through away prices.
This they are doing by exploiting a local government stipulation to their advantage.
Under the export trade rules for leather, a Bangladesh trader to sell leather must have a ‘certificate’ from Leather Working Group (LWG). This certificate enables sale of B’desh leather and leather products globally.
But the Chinese traders do not attach much importance to the certificate, which inter-alia means they are buying leather and leather products whoever is offering a low price, a local media report said.
Bangladesh traders are forced to stay in China’s syndicate market just because the compliance issue is not right, according to, BTA General Secretary Md Sakhawat.
In addition to raw leather, leather footwear, belts, wallets, various types of ladies’ bags, various types of boxes, jackets, hand-gloves, and car accessories are being exported from Bangladesh.
According to Bangladesh Tanners Association (BTA), the country exports about 70 per cent of its leather and leather products. Half of these exports go to China alone.
Other countries importing B’desh leather include Japan, South Korea, Vietnam, UK, Italy and Portugal.###