The quest for higher exports
Sunday, 16 August 2009
Imtiyaz Hasib
THE importance of increasing exports can hardly be overemphasised for the economy. Greater exports would help maintain a sound or acceptable trade balance and contribute to macro-economic stability.
Exporters with their dynamism kept up export performance in recent years. The performance has been particularly good in exporting non-traditional products like pharmaceutical items, vegetables, ornaments, agro-processed foods, polythene bags, iron chains, motor parts, melamine tableware, bicycles, etc. Such items can increase their share in the global market. It would call for greater efforts. The government should support the budding export sectors to increase export volume and earnings.
A list of demands that the representatives of the related export sectors have been pressing to draw the attention of the government on a priority basis, does not seek narrow business interests. Implementation of such proposals and suggestions can boost the exports and the national economy. In this connection, shortage of electricity, which continues to trouble many export-oriented industries needs a solution. Why the government cannot take an emergency plan to ensure steady power supply to export-oriented industries is a big question. Electricity round-the-clock to industry should be a priority, despite the on-going power production difficulties. The government can also consider supply of electricity to export-oriented industries at a concessional price.
Customs procedures can also be simplified further to support exports. Port handling time ought to be reduced to facilitate faster and more competitive exports. The possibility for further lowering the lending rates to benefit exports merit a critical examination. Readjustments of fiscal policies relating to import of capital goods and raw materials may also be considered to help boost exports on a sustained basis.
Trade or economic wings in Bangladeshi missions abroad should be strengthened to support the export activities. Trade wings can be set up at missions where they do not exist. The government needs to do it all and more, to facilitate exports.
THE importance of increasing exports can hardly be overemphasised for the economy. Greater exports would help maintain a sound or acceptable trade balance and contribute to macro-economic stability.
Exporters with their dynamism kept up export performance in recent years. The performance has been particularly good in exporting non-traditional products like pharmaceutical items, vegetables, ornaments, agro-processed foods, polythene bags, iron chains, motor parts, melamine tableware, bicycles, etc. Such items can increase their share in the global market. It would call for greater efforts. The government should support the budding export sectors to increase export volume and earnings.
A list of demands that the representatives of the related export sectors have been pressing to draw the attention of the government on a priority basis, does not seek narrow business interests. Implementation of such proposals and suggestions can boost the exports and the national economy. In this connection, shortage of electricity, which continues to trouble many export-oriented industries needs a solution. Why the government cannot take an emergency plan to ensure steady power supply to export-oriented industries is a big question. Electricity round-the-clock to industry should be a priority, despite the on-going power production difficulties. The government can also consider supply of electricity to export-oriented industries at a concessional price.
Customs procedures can also be simplified further to support exports. Port handling time ought to be reduced to facilitate faster and more competitive exports. The possibility for further lowering the lending rates to benefit exports merit a critical examination. Readjustments of fiscal policies relating to import of capital goods and raw materials may also be considered to help boost exports on a sustained basis.
Trade or economic wings in Bangladeshi missions abroad should be strengthened to support the export activities. Trade wings can be set up at missions where they do not exist. The government needs to do it all and more, to facilitate exports.