Govt approves 5pc cash incentives against salted fish export
Monday, 24 September 2007
FE Report
The government approved recently 5.0 per cent cash incentives against export of salted and dehydrated fish after reviewing its export potential abroad.
The commerce ministry has taken the decision in a meeting with the Export Promotion Bureau (EPB), Bangladesh Bank (BB), National Board of Revenue (NBR), ministry of fisheries and livestock and exporter's association.
Earlier, the EPB sent the proposal to allow cash incentives to the sub-sector following requests from the Salted and Dehydrated Marine Foods Exporters Association (SDMFEA).
The EPB requested the commerce ministry to allow cash incentives for the sector on the basis of export volume of the last few years and export policy 2006-09.
According to EPB statistics, the country exported such fish products worth US$ 4516, $6383, $7839, $7604 and $6781 in 2002-03, 2003-04, 2004-05, 2005-06 and 2006-07 respectively.
The country has been exporting the non-traditional and Crocker group dehydrated fish in eight different categories.
But the overseas competitors from Vietnam, India and Myanmar have been exporting the products at a lower price as they are enjoying cash incentives from their respective governments.
In Bangladesh, the rapidly growing sector has been facing stiff competition in the international market from other overseas suppliers as the local processing costs were much higher.
Presently, a total of 14 exporting sector and sub-sectors have been enjoying cash incentives against export.
The government approved recently 5.0 per cent cash incentives against export of salted and dehydrated fish after reviewing its export potential abroad.
The commerce ministry has taken the decision in a meeting with the Export Promotion Bureau (EPB), Bangladesh Bank (BB), National Board of Revenue (NBR), ministry of fisheries and livestock and exporter's association.
Earlier, the EPB sent the proposal to allow cash incentives to the sub-sector following requests from the Salted and Dehydrated Marine Foods Exporters Association (SDMFEA).
The EPB requested the commerce ministry to allow cash incentives for the sector on the basis of export volume of the last few years and export policy 2006-09.
According to EPB statistics, the country exported such fish products worth US$ 4516, $6383, $7839, $7604 and $6781 in 2002-03, 2003-04, 2004-05, 2005-06 and 2006-07 respectively.
The country has been exporting the non-traditional and Crocker group dehydrated fish in eight different categories.
But the overseas competitors from Vietnam, India and Myanmar have been exporting the products at a lower price as they are enjoying cash incentives from their respective governments.
In Bangladesh, the rapidly growing sector has been facing stiff competition in the international market from other overseas suppliers as the local processing costs were much higher.
Presently, a total of 14 exporting sector and sub-sectors have been enjoying cash incentives against export.