The Cabinet’s Economic Affairs Committee is set to consider the proposed ‘Export Policy 2015-18’ in its meeting Wednesday.
Official documents obtained by UNB show that 11 sectors including ICT, pharmaceuticals, light engineering, agro products, herbal products, and ship-building are set to get priority as the most potent sectors in the proposed new export policy for a 3-year term.
The Commerce Ministry has already moved a proposal in this regard to the Cabinet Division, to place
the proposed final draft of the export policy 2015-18 for the Cabinet body. Once the proposed policy is approved by the Cabinet body, it will come into effect after getting approval of the Prime Minister’s Office, said a top official at the Cabinet Division.
Executive summary of the new policy reveals that capacity-building of the export-oriented industries, ensuring fair price for the export products maintaining qualitative standards, and product diversification and market expansion are the core targets of the new proposed export policy.
Determining the priority of the ICT-based products and services, and making the country’s foreign missions, particularly their commercial wings, proactive in expediting exports and establishing relations with reputed and famous international firms have been accorded the highest importance in the proposed policy, said officials.
The tenure of the last 3-year term export policy (2012-15) already expired on June 20 this year. As per the government decision, the last one will remain effective until the new one comes into effect.
The country’s exports experienced 5.99 percent growth in 2011-12 fiscal, rising to 11.22 percent in 2012-13 and 11.69 percent in 2013-14. But without mentioning anything about the growth in 2014-15 fiscal, the Commerce Ministry said the country increased export earnings in 2014-15, despite falling short of its target.
