This is going to be the first ever international aquaculture and seafood industry trade show of its kind for the country. The Bangladesh Aquaculture and Seafood Show (BIASS) 2023, scheduled for October, will provide a comprehensive exhibition of aquaculture technologies, equipment, feed, packaging, processing machinery, and related products and services for various stakeholders.
The event aims to facilitate business development, foster new partnerships and collaborations, and keep participants updated on the latest industry trends. Taking place from October 19th – 21st, the show will be held at the Bangabandhu International Convention Centre (BICC). Minister for Fisheries and Livestock SM Rezaul Karim MP addressed the media at a hotel in Dhaka on Saturday to provide details.
BIASS 2023 will bring together aquaculture and seafood companies, practitioners, seafood processors and exporters, researchers and academicians, government agencies and policymakers, investors and financial institutions, farmers, as well as international buyers and exporters. These targeted participants will join the event to expand their networks, exchange knowledge, explore business opportunities, showcase their products and services, collaborate with stakeholders, influence policies, and contribute to the growth and sustainability of Bangladesh’s aquaculture and seafood industries.
The Ministry of Fisheries and Livestock (MoFL), the Department of Fisheries (DoF), the Ministry of Commerce (MoC), the Bangladesh Investment Development Authority (BIDA), the Bangladesh Frozen Foods Exporters Association, and Solidaridad are jointly organizing the show. Lokman Hossain Mia, Executive Chairman of BIDA, and Tapan Kanti Ghosh, Senior Secretary of the Ministry of Commerce, were also present at the press conference.
In a written statement, the Minister highlighted that the show’s objective is to promote sustainable growth, innovation, and international collaboration in Bangladesh’s aquaculture and seafood industries. It aims to showcase the country’s potential as a leading player in the global seafood market while acting as a catalyst for the advancement and recognition of Bangladesh’s aquaculture and seafood sectors. These efforts contribute to the overall socio-economic well-being of the country.
Minister SM Rezaul Karim referred to research-based statistics from Vantage Market Research, based in the USA, stating that the global aquaculture market was valued at USD 289.6 billion in 2022 and is projected to reach USD 421.2 billion by 2030, with a compound annual growth rate (CAGR) of 5.5% over the forecast period. According to Statista, a German online platform specializing in data gathering and visualization, the Fish & Seafood market in Bangladesh is expected to generate revenue of $17.38 billion in 2023, with an annual growth rate of 9.03% (CAGR 2023-2028). In comparison, China generates the highest revenue in the global market ($88.09 billion in 2023). Based on population figures, the per-person revenue is estimated to be $102.60 in 2023. By 2028, the volume of the Fish & Seafood market is expected to reach 1,167.00 million kg, with a volume growth of 6.3% in 2024. The average volume per person in the Fish & Seafood market is projected to be 5.66 kg in 2023.
The Minister further informed journalists that Bangladesh’s export income has increased by 26.96% in the current fiscal year, driven by the export of shrimp, dried fish, crab, and other fish products. The government is providing assistance in shrimp production management, including granting matching funds to the private sector for disease-free shrimp production of the Bagda (P. monodon) variety. Additionally, the government has initiated various measures such as converting conventional shrimp hatcheries to SPF hatcheries, introducing cluster-based shrimp cultivation, increasing shrimp farm production, developing supply chain standards, establishing a digital database of existing shrimp farms nationwide, implementing an integrated e-traceability system, enacting the Fisheries and Fishery (Inspection and Quality Control) Act, 2020, implementing the National Residue Control Plan in coordination with the European Union’s policy, establishing an international standard laboratory for quality control of fisheries and fisheries products, and ensuring compliance with quality control regulations and requirements through regular monitoring.
The Minister expressed hope that the Bangladesh International Aquaculture Seafood Show 2023 would play a significant role in further strengthening the country’s economy, aligned with the ultimate goal of transforming Bangladesh into a Smart Bangladesh, as envisioned by Prime Minister Sheikh Hasina.
It’s to be noted that in the year of 2008, Bangladesh Frozen Food Exporters Association (BFFEA) had organized a seafood show at Sonargaon hotel, Dhaka. Though that wasn’t continued to next after that year.
