The Export Promotion Bureau (EPB) has proposed a total export target of $66 billion for the 2026-27 fiscal year, comprising $57 billion from merchandise exports and $9 billion from services sector.
The EPB has submitted the draft proposal to the commerce ministry, requesting prompt review and approval of the targets.
The proposed benchmarks were finalised during a stakeholder consultation, chaired by EPB Vice Chairman and CEO Mohammad Hasan Arif.
Representatives from government ministries and agencies, and export-oriented trade organisations, including BGMEA, BKMEA, BAPA, the Metropolitan Chamber of Commerce and Industry (MCCI), and the Bangladesh Frozen Foods Exporters Association attended the meeting held at the end of last month.
During the consultations, officials and trade leaders evaluated the global economic outlook, domestic macroeconomic indicators, supply chain readiness, and market diversification strategies before recommending the export target, according to official documents.
According to the EPB, while the export sector has shown resilience, it continues to face persistent global headwinds. The economic ripple effects of the Russia-Ukraine war, escalating Middle East tensions involving Israel and Iran, soaring inflation, and the high cost of imported raw materials have squeezed exporters' profit margins.
The bureau also raised concerns that the country's graduation from Least Developed Country (LDC) status will gradually reduce access to preferential trade benefits.
When contacted, Commerce Secretary Md Ataur Rahman Khan said, "We have already held a meeting on the export target, which will be announced soon after finalising it for the current fiscal year. The EPB is currently working on the issue."
At the meeting, business leaders urged the government to introduce targeted policy support to help exporters meet the ambitious target.
They called for lower logistics costs, faster implementation of automated customs and trade facilitation systems such as the National Single Window, rationalisation of import duties on industrial raw materials, particularly for the furniture, plastics and leather sectors, and timely disbursement of cash incentives.
Furthermore, exporters stressed the need to accelerate negotiations on bilateral and regional trade agreements, including Free Trade Agreements (FTAs), Comprehensive Economic Partnership Agreements (CEPAs) and Economic Partnership Agreements (EPAs), with major markets such as the European Union, Japan and South Korea to safeguard market access post-LDC graduation.
The Ready-Made Garment (RMG) sector, which faced a slight negative growth curve recently due to weakened consumer purchasing power in Western markets, is expected to remain the primary engine of the country's export earnings.
According to official documents, the EPB has proposed an export target of $45.8 billion for the sector in FY27, including $24.11 billion from knitwear and $21.69 billion from woven garments.
The EPB has also set ambitious goals for other export-oriented manufacturing sectors.
Among other sectors, leather and leather goods have been assigned a target of $1.44 billion, including $810 million from leather footwear.
Agricultural products are expected to generate more than $1.17 billion, including $230 million from tobacco and $170 million from fruits.
Jute and jute goods exports have been targeted at $1.017 billion, with jute yarn and twine projected to contribute $620 million.
Home textiles are expected to earn $1.065 billion, engineering products $803.8 million, and pharmaceutical exports $290 million.
The EPB has set a $9 billion target for service exports in FY27.
Transportation services are expected to generate $1.65 billion, followed by other business services at $1.54 billion.
Computer and IT services have been assigned a target of $855 million, including $750 million from data processing and hosting services, while telecommunications services are projected to earn $935.82 million.
Officials said achieving the overall export target would depend on stronger performance across both the manufacturing and services sectors amid an increasingly challenging global trade environment.
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