Staff Reporter :
The government is likely to fix US$ 37 billion export target for the next fiscal (2016-17).
It would be 10 per cent higher than the target of the outgoing fiscal (2015-16), officials said.
“We have projected the US$37 billion export target taking consideration into the last five year’s export growth,” Mahruha Sultana, Vice-Chairman of Export Promotion Bureau (EPB) told The New Nation on Tuesday.
EPB proposed the target at a meeting with the exporters held at its office recently.
“We will again sit with the export sector’s stakeholders to finalise the target. The proposed target will later send to the Commerce Ministry for its approval,” said Mahruha Sultana.
The EPB chief said the target is not ambitious if we look at the current trend of export growth.
When asked, she said, “We are optimistic of achieving this year’s export target as export earnings continues to grow in monthly basis”.
“The trend is expected to continue in June and total export will cross $34 billion mark by the end of this fiscal,” she said.
The government earlier set U$33.5 billion export target for outgoing fiscal (2015-16).
Bangladesh’s export earnings during July-May stood at $30.66 billion, showing 8.95 per cent growth over the same period of last fiscal.
“The proposed target is realistic if we consider last five years export growths. But achieving the target would be challenging, especially in view of Brexit fall out and sluggish demands from the US and the EU,”
Abdus Salam Murshedy, President of the Exporters Association of Bangladesh (EAB) told The New Nation.
He also said the Brexit issue may leave an adverse impact on Bangladesh’s shipments to the UK and other European nations. At the same time, the falling value of British pound and Euro as a result of Brexit may also affect the country’s overall export earnings leading to a lower export growth next fiscal.
Murshedy, however, said that maintaining export growth will largely depend on competitiveness of local products. The ever rising production cost as a result of increased tax burden on manufacturing units and energy prices is badly affecting the diversity of our export markets.
“Our export market remains same (the US and the EU) over the years and when economic shock jolted in these developed markets it is ultimately lowering the country’s shipment growth,” he added.
So, the government should look into the issue seriously to keep unhurt the country’s export growth. An increased rate of incentives should be offered to the exporters to explore new markets, he added.
The government is likely to fix US$ 37 billion export target for the next fiscal (2016-17).
It would be 10 per cent higher than the target of the outgoing fiscal (2015-16), officials said.
“We have projected the US$37 billion export target taking consideration into the last five year’s export growth,” Mahruha Sultana, Vice-Chairman of Export Promotion Bureau (EPB) told The New Nation on Tuesday.
EPB proposed the target at a meeting with the exporters held at its office recently.
“We will again sit with the export sector’s stakeholders to finalise the target. The proposed target will later send to the Commerce Ministry for its approval,” said Mahruha Sultana.
The EPB chief said the target is not ambitious if we look at the current trend of export growth.
When asked, she said, “We are optimistic of achieving this year’s export target as export earnings continues to grow in monthly basis”.
“The trend is expected to continue in June and total export will cross $34 billion mark by the end of this fiscal,” she said.
The government earlier set U$33.5 billion export target for outgoing fiscal (2015-16).
Bangladesh’s export earnings during July-May stood at $30.66 billion, showing 8.95 per cent growth over the same period of last fiscal.
“The proposed target is realistic if we consider last five years export growths. But achieving the target would be challenging, especially in view of Brexit fall out and sluggish demands from the US and the EU,”
Abdus Salam Murshedy, President of the Exporters Association of Bangladesh (EAB) told The New Nation.
He also said the Brexit issue may leave an adverse impact on Bangladesh’s shipments to the UK and other European nations. At the same time, the falling value of British pound and Euro as a result of Brexit may also affect the country’s overall export earnings leading to a lower export growth next fiscal.
Murshedy, however, said that maintaining export growth will largely depend on competitiveness of local products. The ever rising production cost as a result of increased tax burden on manufacturing units and energy prices is badly affecting the diversity of our export markets.
“Our export market remains same (the US and the EU) over the years and when economic shock jolted in these developed markets it is ultimately lowering the country’s shipment growth,” he added.
So, the government should look into the issue seriously to keep unhurt the country’s export growth. An increased rate of incentives should be offered to the exporters to explore new markets, he added.
