Export target for FY '08 proposed at $13.50 billion
Monday, 20 August 2007
FE Report
The Export Promotion Bureau (EPB) has submitted a proposal to the Ministry of Commerce (MoC) fixing the country's export target for the current fiscal at $13.50 billion, official sources said.
The target is 10 per cent higher than that of previous fiscal.
The MoC has convened a meeting today (Monday) to review and fix the export target for the fiscal 2007-08. Leaders of trade bodies, exporters and officials concerned will attend the meeting to be presided over by Commerce Secretary Feroz Ahmed.
The meeting will also fix specific export targets for the Bangladeshi missions abroad in line with their previous performance, the sources added.
"We have estimated the export target in consultation with all stakeholders," Vice-Chairman of the EPB Shahab Ullah told the FE Sunday, adding that the EPB was hopeful of achieving the export target.
The EPB, while fixing the country's export target, took the prevailing situation in the regional countries, including Vietnam, Laos, Cambodia and India, into consideration, particularly that of apparel sector, sources said.
The export target has been calculated on the basis of the last fiscal's export performance. In fiscal 2006-07, the country's export earnings stood at $12.18 billion, which was 2.6 per cent lower than the target of $12.50 billion set for the year.
During the period, the volume of exports although increased by 16.36 per cent, the overall prices fell by 0.67 per cent.
Earnings from the woven garment segment grew by 14.05 per cent to $4.657 billion crossing the target for the fiscal at $4.650 billion, up by 0.16 per cent, according to EPB statistics.
However, the knitwear exports surged by 19.30 per cent to $4.55 billion but the same missed the export target set for the fiscal by nearly 6.03 per cent.
Earnings from frozen foods, the second largest export earner, grew by about 12.24 per cent to $515.32 million, the data showed.
The Export Promotion Bureau (EPB) has submitted a proposal to the Ministry of Commerce (MoC) fixing the country's export target for the current fiscal at $13.50 billion, official sources said.
The target is 10 per cent higher than that of previous fiscal.
The MoC has convened a meeting today (Monday) to review and fix the export target for the fiscal 2007-08. Leaders of trade bodies, exporters and officials concerned will attend the meeting to be presided over by Commerce Secretary Feroz Ahmed.
The meeting will also fix specific export targets for the Bangladeshi missions abroad in line with their previous performance, the sources added.
"We have estimated the export target in consultation with all stakeholders," Vice-Chairman of the EPB Shahab Ullah told the FE Sunday, adding that the EPB was hopeful of achieving the export target.
The EPB, while fixing the country's export target, took the prevailing situation in the regional countries, including Vietnam, Laos, Cambodia and India, into consideration, particularly that of apparel sector, sources said.
The export target has been calculated on the basis of the last fiscal's export performance. In fiscal 2006-07, the country's export earnings stood at $12.18 billion, which was 2.6 per cent lower than the target of $12.50 billion set for the year.
During the period, the volume of exports although increased by 16.36 per cent, the overall prices fell by 0.67 per cent.
Earnings from the woven garment segment grew by 14.05 per cent to $4.657 billion crossing the target for the fiscal at $4.650 billion, up by 0.16 per cent, according to EPB statistics.
However, the knitwear exports surged by 19.30 per cent to $4.55 billion but the same missed the export target set for the fiscal by nearly 6.03 per cent.
Earnings from frozen foods, the second largest export earner, grew by about 12.24 per cent to $515.32 million, the data showed.