It is encouraging to note that the government has embarked on a pragmatic initiative
to boost export of agricultural products.Reportedly, from the next fiscal, all producers and exporters of agro products based in the economic zones (EZs) and export processing zones (EPZs) will get 20 percent cash incentives.
We have learnt that many countries including Japan, have expressed interest to invest in the agro-processing industry in different economic zones of Bangladesh, but they are yet to make the move because of the discriminatory incentive system. We hope, this discrimination will be removed and parity in incentive will encourage different countries to invest in country’s agro sector.
Government should act promptly to
minimise trade barriers with different
Agriculture is gradually becoming a major export-oriented sector for Bangladesh. As reported by this daily on Tuesday, export earnings from agricultural products rose by 9 million to $271 million in the first quarter (Q1) of fiscal year (FY) 2020-21 from $262 million in the corresponding period of FY20. It needs no mentioning that such upward trend in agro-export is the consequence of the government’s relentless efforts to boost the country’s agro-economy and bring efficiency in the farm sector by enhancing export of processed agro-food.
There is great demand for processed food products in different countries of the world. Even in China and Japan the demand is increasing rapidly. But it is disconcerting to note that we do not have adequate infrastructure facilities to process our agro produce.
Therefore, it is high time for the authorities concerned to focus on the food processing industry and build necessary infrastructure to get the most out of this sector.
The demand for agricultural products is increasing rapidly in the world market and it is high time for Bangladesh to tap this opportunity. If quality production and preservation process can be ensured, the country would be able to export more.
The authorities concerned should therefore, extend necessary cooperation to entrepreneurs involved with food processing industry. Also, the government should act promptly to reduce trade barriers with different countries. In order to keep the momentum of the current growth of agro export intact, we should diversify agricultural production and improve market linkages for small-holder farmers.