The Cabinet Committee on Economic Affairs has approved a draft of a new export policy aimed at increasing export earnings to 8,000 crore dollars within three fiscal years. In order to reach the target, it is necessary to double the present export earnings between the last fiscal year to the next three fiscal years. Finance Minister AHM Mustafa Kamal informed about the approval of the draft export policy at a cabinet committee meeting held on a virtual platform on Wednesday (12 January).
The Finance Minister said that some new products and services with potential have been included in the new export policy. The new policy also includes how it is possible to increase export trade through the Fourth Industrial Revolution. It also details how to formulate strategies to tackle post-LDC graduation challenges.
In the future, benefits are being provided in the information and communication technology (ICT) and freelancing services sector, the Finance Minister said, adding that the concept of ‘Made in Bangladesh’ has been emphasised in the new export policy. The top priority sectors are value-added ready-made garments and denim; synthetic fibres, garments accessories, medicines, plastics, shoes, jute products, agricultural products, light engineering, furniture, etc.
Special developmental sectors have been identified – electrical and electronics, ceramics, frozen fish, printing and packaging, rubber, silk, and handicrafts. The list of export-prohibited products includes jute seeds, rice (non-aromatic), firearms, archaeological objects, human skeletons, pulses, onions, garlic, ginger, etc.
