Business Report :
Dhaka Chamber of Commerce and Industry ((DCC) termed the new export target $33.5 Billion for the FY 2015-16 by the Export Promotion Bureau (EPB) traditional as Bangladesh has privileges of duty & quota free market (DFQF) access to Chile, Argentina, Japan, Thailand, Canada and New Zealand in addition to EU’s GSP, says a press release on Wednesday.
DCCI says, relaxation of Rules of Origin in exporting to Japanese market and new market development across Africa, Latin America and Asia are expected to increase the export of Bangladesh.
Since RMG sector contributes 81% of total export earning, DCCI feels export target of FY2015-16 doesn’t consider the incremental growth in the line with BGMEA’s vision of $50 Billion export earning by 2021.
In this perspective, DCCI feels the total export target of $33.500 Billion does not coincide to the DCCI’s vision of graduating Bangladesh into the 30th largest economy in the world by 2030 and vision 2021 of GoB.
As per DCCI’s vision 2030, the export should be around $41.00 Billion in FY 2017-18. Product diversification in Manufacturing, Agriculture, Service sector is necessary for achieving 8% GDP growth by 2021 and double digit GDP growth by 2030. Industrial Investment and revenue generation are not happening in the economy accordingly.
The revised trade agreement signed between Bangladesh and India is believed to increase our export to India higher than preceding fiscal years. The FY 2015-16 targets export of $570 Million to India that is merely 8 percent higher than the immediate past fiscal year. Russia has never been a large export destination for Bangladesh and Export to Russia recorded around $217.7 Million till March, 2015.
Dhaka Chamber of Commerce and Industry ((DCC) termed the new export target $33.5 Billion for the FY 2015-16 by the Export Promotion Bureau (EPB) traditional as Bangladesh has privileges of duty & quota free market (DFQF) access to Chile, Argentina, Japan, Thailand, Canada and New Zealand in addition to EU’s GSP, says a press release on Wednesday.
DCCI says, relaxation of Rules of Origin in exporting to Japanese market and new market development across Africa, Latin America and Asia are expected to increase the export of Bangladesh.
Since RMG sector contributes 81% of total export earning, DCCI feels export target of FY2015-16 doesn’t consider the incremental growth in the line with BGMEA’s vision of $50 Billion export earning by 2021.
In this perspective, DCCI feels the total export target of $33.500 Billion does not coincide to the DCCI’s vision of graduating Bangladesh into the 30th largest economy in the world by 2030 and vision 2021 of GoB.
As per DCCI’s vision 2030, the export should be around $41.00 Billion in FY 2017-18. Product diversification in Manufacturing, Agriculture, Service sector is necessary for achieving 8% GDP growth by 2021 and double digit GDP growth by 2030. Industrial Investment and revenue generation are not happening in the economy accordingly.
The revised trade agreement signed between Bangladesh and India is believed to increase our export to India higher than preceding fiscal years. The FY 2015-16 targets export of $570 Million to India that is merely 8 percent higher than the immediate past fiscal year. Russia has never been a large export destination for Bangladesh and Export to Russia recorded around $217.7 Million till March, 2015.
