Driven by textiles, Commerce Ministry sets ambitious export target
06 Oct '05
2 min read
Promising export prospects for country's textiles, knitwear, jute and agricultural produce, Commerce Ministry of Bangladesh has sets an ambitious export target of US $10.11 billion for 2005-2006 FY.
This is almost 17 percent higher than that achieved during the previous fiscal.
Industry and Export Promotion Bureau (EPB) authorities feel optimistic at reaching the target albeit with government support.
With Commerce Minister Altaf Hossain Chowdhury in chair, the well-attended meeting saw presence of business leaders, RMG sector leaders, Export Promotion Bureau (EPB) representatives and other government officials.
Considering a three-year (2003-2006) export guidelines for to arrive at the export target of US$ 9.60 billion for 2005-2006 fiscal year, the Government assessing the last fiscal's enhanced foreign exchange earnings, revised the figure by an additional figure of $510 million to total it up to $ 10.11 billion.
Textiles including woven, knitwear; footwear, jute goods, frozen food, agriculture products and raw jute were considered as sectors showing promise and help in achieving higher export targets for the current fiscal.
As for the woven sector target, EPB at Monday's meeting proposed the government to set $3,650 million (3.65 billion) as export target. Reason for this was the country missing last year's target wall that led to a slump in woven garment sector.
Annisul Haq, BGMEA President who attendedthe meeting averred that sectorial target could not be met on account of floods in Bangladesh.
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