Half of overseas missions misses export targets last fiscal year

Most of the key Bangladeshi missions and commercial wings abroad missed their respective export targets in the just concluded fiscal year, 2013-14, due mainly to last year's volatile politics in the country, officials said.
Besides, the western world's slow recovery from the great recession also played a major role behind the failure, the top Export Promotion Bureau (EPB) officials added.
According to the EPB statistics, out of the 52 missions, 26 missions could not achieve their export earning targets. Similarly, out of the 17 commercial wings, five wings failed to achieve their targets.
"Due to the political volatility that prevailed in the country until January last, and fear of further volatility are largely responsible for the failure in achieving targets of our missions and commercial wings abroad," EPB vice-chairman Shubhashish Bose told the FE Thursday.
Besides, slow recovery from the global economic recession also contributed to their poor performance, he also said.
"We are maintaining regular communication with them along with the Ministry of Commerce (MoC), and providing necessary guidelines."
"We hope that this close monitoring of MoC and EPB will help the diplomatic missions and commercial wings to overcome their failure soon," Mr Bose also added.
An expert related with export business said: "Many top officials of the missions and wings in some countries, considered as big markets for Bangladeshi products, failed to perform properly. Failure in achieving export targets in those countries reflects our diplomatic failure in terms of promoting global business."
During the FY 2013-14, Bangladesh's export earning totaled US$30.177 billion, which is 1.06 per cent lower than the strategic target of $30.50 billion. However, it is 11.65 per cent higher than the earning of the previous fiscal (2012-13).
However, of the 26 poor performing missions, export growth of 13 missions - Washington, London, Paris, Tokyo, Nairobi, Canberra, Ottawa, Geneva, Mexico City, Athens, Moscow, Kuala Lumpur and Jakarta - was higher than the previous fiscal.
On the other hand, the export growth of the rest 13 missions - New Delhi, Hong Kong, Dubai, Riyadh, Singapore, Bangkok, Tehran, Katmandu, Pretoria, Islamabad, Brasilia, Manila and Riyadh - was lower than the previous FY.
Of the 12 poor-performing commercial wings, export growth of nine - Washington, London, Paris, Tokyo, Ottawa, Geneva, Canberra, Moscow and Kuala Lumpur - was higher than the FY 13.
Meanwhile, achievement of the 26 better performing missions, including Berlin, Madrid, Rome, Stockholm, Brussels, Ankara, Beijing, Cairo, Kuwait, Colombo and Muscat, was 11.41 per cent higher than their export targets.
Achievement of the five well performed commercial wings was also 7.65 per cent higher than their strategic targets.