November 6, 2024

Bangladesh urged to embrace modern technology to boost shrimp exports

Dr Salehuddin Ahmed, adviser to the interim government of Bangladesh on Finance and Commerce, emphasised the need for adopting modern, automated technologies to boost shrimp productivity and enhance foreign currency earnings.

"Bangladesh's shrimp holds significant demand in the global market," Dr Ahmed stated, pointing to declining production due to reliance on traditional methods. "Modern technology should be introduced to improve shrimp production. Without an increase in production, export volumes will not rise," he added.

Dr Ahmed made these remarks during a meeting with the leaders of the Bangladesh Frozen Foods Exporters Association (BFFEA) at the Finance Ministry's conference room. The session was organised to discuss challenges facing the shrimp export sector, according to a press release.

The adviser also highlighted recent restructuring efforts within government agencies, including the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA), noting that the country's investment climate has shown marked improvement.

He urged the business community to further private sector investment, stressing its potential for growth and economic impact.

BFFEA president Kazi Belayet Hossain acknowledged the challenges facing the shrimp processing industry. According to Hossain, processing factories have not been able to fully utilise production capacity for over a decade due to raw material shortages.

"The volume of exports is declining steadily. The Covid-19 pandemic and the ongoing Russia-Ukraine conflict have reduced both demand and prices for shrimp and fish in Bangladesh. Concurrently, local prices have risen, contributing to the downward trend in exports," Hossain explained.

Also present at the meeting were Additional Secretary of the Ministry of Commerce, Md Abdur Rahim Khan, and BFFEA senior vice president, Ashraf Hossain Masud.

-      BSS News