by Apparel Resources News-Desk
17-July-2019 | 2 mins read
Bangladesh is likely to set a 15 per cent higher export target for this fiscal year, and the Government along with other exportable products, is banking on leather items and increasing export potential of readymade garments to Eurasian countries and Brazil to reach this goal.
It may be mentioned here that Bangladesh is looking at achieving export receipt target of US $ 60 billion by 2021.
“We will be greatly benefited from these two markets. Our bargaining capacity with the existing buyers will also improve if we can grab those markets,” stated Commerce Minister Tipu Munshi referring to Brazil and Eurasian countries, while expressing hope of massive export growth of leather and leather goods this year.
“We want more export earnings. We have been diversifying both the export destinations and products for more export,” underlined, Secretary to the Commerce Ministry Md. Mofizul Islam.
Bangladesh is evaluating signing FTAs with some countries like China, Malaysia and India, he added.
Meanwhile, Additional Secretary to the Commerce Ministry, Tapan Kanti Ghosh, maintained that Bangladesh’s exports to the main markets like Germany, USA and some Asian countries have registered significant growth in the immediate past fiscal year while dismissing any fear of adverse effects on Bangladesh’s exports in light of the recent signing of FTA between the EU and Vietnam.
The signing of FTA between Vietnam and the EU might not be a big threat for Bangladesh as the country has been enjoying the zero duty benefit to the EU till now and would further continue to do so until 2027, he said.
Share This Article