Steps taken to raise exports to SAARC member states

Shamsul Huda | Published: March 28, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

Measures have been taken to increase exports to the SAARC member-states against country's huge trade deficits, particularly with India.
Official statistics say in the last fiscal year Bangladesh exported only US$700 million to Afghanistan, Bhutan, India, Pakistan, Sri Lanka, Nepal and the Maldives and in the same period import from those countries was more than $5.0 billion.
Apart from regular programmes including secretary-level meetings, fairs, seminars and symposiums, the government plans to send special delegations both from public and private sector to the member-states for expanding export market.
Export Promotion Bureau (EPB) vice president Shuvashish Bose, said different delegations would be sent to the SARRC countries on regular basis to explore new markets. EPB is under the ministry of commerce.
He said economic diplomacy would be strengthened in the upcoming days as Bangladesh is currently manufacturing world standard products.
Regarding trade deficits with India he said, "Despite duty free facilities we are yet to increase our exports to India."
Currently under South Asian Free Trade Agreement (SAFTA) though member states do have duty free access for product export from one country to the others, but non tariff barriers still exist.
An official said in Nepal there is demand for Bangladesh's automobile batteries but due to supplementary duty and other problems we are missing the opportunities.
He said, "Our agricultural products, energy drinks, juices, footwear and other products do have a great market in Pakistan, Afghanistan, Sri Lanka and the Maldives."
Apart from Hilsha - it is banned now - white fishes and some other traditional items export in India, market for Bangladeshi readymade garments, plastic products, pharmaceuticals, ceramics, furniture, automobile batteries and other diversified products are also there.
But due to non-tariff barriers imposed by the Indian government export is not increasing whereas every year new products are included in Bangladesh's import list from India.
Trade with Pakistan is enjoying surplus in favour of Bangladesh and opportunities are there to increase the volume of trade between two countries and official-level meetings would soon be held in this regard, another source in the EPB said.
A source in the ministry of commerce said as part of accelerating exports the government has taken measures to strengthen economic diplomacy among the SAARC member-states.
Mr. Bose said, "As part of our product promotion we have planned to regularly invite representatives from the member-countries to attend our fairs and different seminars."
He said along with the regular programmes emphasis would be given in official-level meetings which happen at three-month intervals.