Dhaka, Bangladesh (BBN) – Bangladesh government is planning to near double exports to US$50 billion by 2018 through expanding its market in three Asian countries.
Japan, India, and China will emerge as vibrant exports destinations in the coming years and the diversification will help achieve the target, the government officials observed.
They also said the draft Export Policy 2015-18 has the provision of offering incentives to help broaden markets and products base to reach the target.
The ambitious target is being set after the country’s overseas sales hit a record $30 billion in 2014 financial year.
Besides, 12 products that are either new or slower in earning foreign currencies have been incorporated in the draft export policy, which will enjoy the government support.
Deep-sea fish, leather and leather products, frozen fish and processed fish items, handicrafts, electric and electronic items, fresh flower and foliage, loom fabrics, medicinal plants and medicine and medical items, plastic goods, furniture, printing and packaging, paper and rubber are the new items that have been included in the new policy.
“We’re optimistic about attaining the target of doubling the country’s export earnings within the period,” a senior official of the state-run export promotion bureau (EPB) said.
He also said that India, China and Japan will emerge as another USA or EU for Bangladesh in the coming years with respect to achieving the target.
The commerce ministry officials are expected to hold a meeting with the stakeholders next month to finalise the policy and will then send it to the cabinet for its approval.
The validity of the ongoing policy will expire on June 30, 2015.
BBN/SSR/AD-0%Oct14-11:08 am (BST)
