Commerce Minister Tipu Munshi on Saturday said that there have no alternative to enhancing export in cementing the foundation of Bangladesh economy and Considering this reality, Bangladesh has already set a target of merchandise export at $100 billion by 2026,
The minister was addressing a meeting with the Overseas Correspondents Association of Bangladesh (OCAB) at the National Press Club in Dhaka.
Munshi said for achieving the target, the government will diversify the export basket as most of the export eating is mainly dependent on garment items, more than 84 per cent of the national export in a year.
Moreover, the government is exploring Asian markets for boosting export and to achieve the target by the given time, he said.
Bangladesh will be able to send $4.0 billion worth of goods in the next three to four years which will also help achieve the target, he added.
"The government has already started working to face the challenges ahead in export trade. We have signed preferential trade agreement (PTA) with Bhutan, also discussion is going on with some other countries with due importance in signing agreements like PTA and FTA. Our trade gap with China and India is much more because of importing raw materials and industrial equipments", Minister added.
He mentioned that China has already offered duty free facilities on export of upto 99 percent of products in view to narrowing the trade gap with them while work is on to sig CEPA agreement with India, so all these will held reduce the existing trade gap with them.
Minister also said that China has relocated its readymade garments industries so the potentials of Bangladesh has increased. Besides, we have our skilled workforces and less production cost. Green Factories In the RMG industry is most in number in Bangladesh at present so we have huge potentials in export business.
Replying media queries, Minister said the government is observing the issue of increasing egg prices in the market. Importing egg through protecting the local industry will be considered.
Convenor of OCAB Convening Committee Qadir Kallol, Member Secretary, Nazrul Islam Mithu, Senior Member, Farid Hossain and other members of the organisation were lso present on the occsion.
