The government on Monday fixed $33.20 billion export earnings target for the current fiscal (2014-15), up by 10.02 per cent or $2.70 billion from the actual earning in the just-concluded fiscal.
The target was set at a meeting between the Ministry of Commerce and representatives of export-oriented industries with Commerce Minister Tofail
Ahmed in the chair. Bangladesh’s export in the fiscal 2013-14 hit a record $30.17 billion, up 11.65 per cent over that of the previous fiscal year on the back of stronger garment sales. The export earning, however, fell short of the target by 1.06 per cent.
The export target for the 2013-14 fiscal was fixed at $30.50 billion. In the current fiscal, the export earnings target form the garments sector, the country’s largest export industry, has been fixed at $26.9 billion, up 10 per cent from previous year’s $24.5 billion when apparel shipment surged 14 per cent.
Of the $24.49 billion earnings during the fiscal 2013-14, $12.04 billion was from knitwear export while $12.44 billion was from woven products export. Knitwear and woven export saw 15.02 and 12.70 per cent growth respectively over the year.
In the current fiscal, earnings target from the woven garments set at $13.68 billion and knitwear at $13.21 billion.
While talking to the New Nation, vice-chairman of Export Promotion Bureau (EPB) Subashish Bose said, “We have calculated this fascal’s export target taking cognizance of last year’s performance of the all export sectors.”
“Our export missed slightly from the last year’s target which also came the consideration of the export promotion agency,” he added. He, however, said despite many odds, the country’s export earnings remained stable and recorded satisfactory growth during the last fiscal, capitalising stronger garments shipments. This has made us optimistic about achieving the current fiscal’s export target, he said.
The EPB vice-chairman also said that commercial councilors working in Bangladeshi embassies abroad has been asked to work hard for achieving the target.
Vice-president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Shahidullah Azim said, the target is achievable if there is a peaceful political environment prevails in the country. “The garments export target will be achieved easily if there is no political unrest,” he said.
