EPB plans to achieve export goals from missions abroad

FE Team | Published: December 14, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Shah Alam Nur The Export Promotion Bureau (EPB) has taken up action plans to achieve export goals from the country's missions abroad. In doing so, the EPB will send a letter to the foreign affairs ministry requesting them to take necessary steps so that all the 44 Bangladesh missions can fulfil the export targets, commerce ministry (MoC) officials said. Out of the total missions, 23 achieved their respective export targets, while 21 could not do so during July-October period of the current fiscal year (FY12), according to the latest statistics of EPB. "We'll seek suggestions from the missions about the measures and mechanisms needed for boosting export and devise ways and means accordingly," MoC Secretary Golam Hossain told the FE. From now on, Mr. Hossain said, commerce ministry and the foreign affairs ministry will work jointly to boost export trade. "Efforts will be made to increase export volume by synchronising economic and diplomatic relations", he said. Belgium, Russia, Turkey and South Korea are potential export destinations for Bangladeshi products, EPB sources said. Readymade garment's (RMG) share in export is gradually declining and has come down to 77.10 per cent this year from 80 per cent earlier, Mr Hossain said, adding: "It means that shares of other goods like software and shipbuilding are on the rise." The government has fixed the export target at $26.36 billion for the current fiscal year, representing a 15 per cent growth over the total export earning in the last fiscal. The country achieved an impressive 41.47 per cent growth in export earning in the just concluded 2010-11 fiscal. The country's earnings from export have missed target at the end of the first five months of the current fiscal year but managed to seal a growth by 17.33 per cent. EPB data show US$9.71 billion was earned from exports during July-November, which was 3.55 per cent below the export target set for the period at $10.07 billion. The total exports last fiscal (FY 2010-11) stood at $22.92 billion, exceeding the target by 23.92 per cent and crossing well over the annual target of $18.50 billion.