Lack of Utilization of GI Tags Hindering Bangladesh’s Economic Potential
Bangladesh has been granted geographical indication (GI) status for 21 products over the last decade, with an additional 10 products set to receive the same recognition. However, the country has failed to capitalize on the benefits of these GI tags due to a lack of promotion and utilization by stakeholders.
Bangladesh has been granted geographical indication (GI) status for 21 products over the last decade, with an additional 10 products set to receive the same recognition. However, the country has failed to capitalize on the benefits of these GI tags due to a lack of promotion and utilization by stakeholders.
The Importance of GI Status
Geographical indication status is crucial for products as it enhances their reputation, builds consumer confidence, and allows them to command higher prices in the global market. Consumers are increasingly seeking authentic and origin-certified products, making GI tags a valuable asset for producers.
Current Scenario in Bangladesh
Despite having GI status for renowned products like Jamdani, Muslin of Dhaka, and Hilsa fish, Bangladesh has not leveraged these labels to promote and market these goods effectively. The collective failure of concerned ministries, departments, trade bodies, and businesses has led to a missed opportunity for economic growth.
Challenges in Utilizing GI Tags
Stakeholders have yet to design logos and packaging materials, enlist products with relevant associations, and undertake promotional activities for GI-certified goods. This lack of initiative has resulted in the underutilization of the potential benefits that GI status offers.
Addressing the Issue
Experts emphasize the need for stakeholders to collaborate in branding, marketing, and promoting GI products to maximize their economic value. While efforts are being made by organizations like the Bangladesh Small and Cottage Industries Corporation (BSCIC) to train producers and develop packaging for GI products, more comprehensive strategies are needed.
Unlocking Economic Opportunities
The commercial production and export of GI-tagged products such as Shotronji, Hilsa fish, and black tiger shrimp could significantly boost Bangladesh's economy. However, the absence of a coordinated approach and the limited capacity of producers are hindering the realization of these benefits.
Future Prospects
With the potential for commercial gains from GI products like Muslin of Dhaka and GI-tagged mango varieties, there is a need for increased collaboration among ministries, trade bodies, businesses, and producers. By harnessing the power of GI status, Bangladesh can establish a strong foothold in the global market.
In conclusion, the underutilization of GI tags in Bangladesh is a missed opportunity for economic growth and international recognition. Stakeholders must prioritize the promotion and marketing of GI-certified products to unlock their full potential and reap the associated benefits.
Hi, Ali Rahman in the house! From Chittagong, Bangladesh, I've been on a wild ride from Banskhali Bangabandhu High School to Govt. Alaol College and beyond, landing me at National University. Now, I'm here to dish out the lowdown on national issues and global news. Stick around for a fresh take on what's shaking up our world! Connect With Me