At a seminar on export diversification organised recently by the Bangladesh International Institute of Strategic Studies (BIISS), stakeholders emphasised the need for revising the national tariff policy to be more ‘exporter friendly.’
Foreign minister Dr. Hasan Mahmud, along with other prominent figures like lawmaker Md Abul Kalam Azad, Masud Bin Momen (foreign secretary), Tapan Kanti Ghosh (senior secretary, ministry of commerce), and Wahida Akhter (secretary, ministry of agriculture), addressed the seminar.
The discussion, chaired by BIISS chairman A F M Gousal Azam Sarker, shed light on critical issues affecting the export dynamics.
Economist Dr. Mahfuz Kabir highlighted inflation’s global prevalence and its varying impact on export volumes.
He stressed the importance of prioritising exporters and providing policy incentives to mitigate hurdles posed by inflation and tariff policies, perceived as anti-export bias.
Dr. Kabir pointed out that the rise in policy interest rates globally adversely affected production for export markets, compounded by inflationary pressures in major export destinations.
He advocated for export basket diversification to reduce dependence on a single sector, which could be exploited by the buyers.
Foreign minister Dr. Hasan Mahmud echoed the sentiment, underlining the government’s awareness of evolving geopolitical dynamics and its prudent decision-making approach even as he emphasised export diversification to boost earnings.
ALCHEMPro News Desk (DR)
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