Bangladesh's information technology (IT) output, tea, handloom clothing and services are among some new items to hit the global market under an export policy unveiled Wednesday to chase a shipment target of US$60 billion by 2021.
Officials said 'The Export Policy 2015-2018' is geared toward augmenting export to the US$60-billion level by the golden-jubilee year of country's independence.
The newly-set long-range export target means doubling the current annual export turnover that came to around 30 billion US dollars in the just-past financial year.
The seal of approval on the export policy was given at a meeting of the cabinet committee on economic affairs at the Cabinet Division of Bangladesh Secretariat with Finance Minister AMA Muhith presiding.
Present among others were Industries Minister Amir Hossain Amu, Commerce Minister Tofail Ahmed, Agriculture Minister Begum Matia Chowdhury, Shipping Minister Shajahan Khan and Law, Justice and Parliamentary Affairs Minister Anisul Huq.
The commerce minister explained how to take the export volume up to the level set for the year 2021.
"The cabinet committee on economic affairs approved the export policy in conformity with the 'vision 2021'. We think the new export policy will help enhance our export growth and reach our export target to US$ 60 billion by 2021," he told journalists after the meeting at the ministry.
Mr Ahmed said in the new export policy the government put emphasis on IT and tea sectors considering their potential for boosting export.
"We will promote non-traditional items side by side the existing ones. We will diversify our products and markets so that we could achieve our export targets," he said.
The commerce minister also mentioned government move for increasing the number of commercial councillors and strengthening their capacities for an increase in country's exports.
He said the new policy covers all the issues related to the promotion of export.
"We (the government) will form monitoring committee and establish export cell at Export Promotion Bureau (EPB), ensuring business-friendly banking system and labour rights," he said.
"It is a realistic policy and all appreciated it," he told the media.
Replying to a question about GSP he reiterated that the government would not take any new initiative to get back the Generalized System of Preferences (GSP) facility for Bangladeshi products on the US market.
"We have fulfilled all the 16 conditions set by the United States Trade Representatives (USTR) to regain the facility. But we did not get it. We have nothing more to do."
The minister, also a veteran leader of the ruling Awami League, categorically said: "We would not bow down as we are a sovereign and independent country."
He is of the view that country's export will not be affected even if the country doesn't get back the GSP facility.
The US suspended GSP for Bangladesh on June 27, 2013 in the aftermath of over 1,000 workers' death in Tazreen Fashions fire and Rana Plaza collapse.
The cabinet committee on economic affairs also approved a project for establishment of international- standard tourism complex at the existing motel compound in Sylhet.
talhabinhabib@yahoo.com
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