The government has set the current fiscal year export target at $33.5bn with a 7.83% growth, taking the global economic situation and domestic issues into an account.In the just-concluded fiscal year, Bangladesh earned $31.19bn, posting a 3.35% growth, the lowest in last 13 years. It set the export target at $33.20bn last year.Commerce Minister Tofail Ahmed yesterday made the announcement at a meeting with the stakeholders at Export Promotion Bureau (EPB) in the city yesterday.Senior Commerce Secretary Hedayetullah Al Mamoon was present at the meeting.“The export target of $33.5bn for the FY2015-16 will be fulfilled as the government set a pragmatic target, considering global economic scenario and domestic issues,” Tofailsaid.He added that the government will provide cash incentives and policy support for pharmaceuticals, ship building, leather, jute and furniture sectors to reach the export target.The country’s exporters had been able to register positive export growth in last fiscal year amid destructive political programmes, said the minister.The export earnings could exceed the target if there was no political unrest and devaluation of foreign exchange rate in the global market, he added.The dream of earning $50bn through export by 2021 will come true as the government has put emphasis on product and market diversification in its sixth fifth-year plan, Tofailhoped.The export target has been set based on month-wise export earnings of last fiscal year, said EPB Vice-Chairman ShubhashishBose.“In setting the target, we took into account the post-recession recovery in the US economy, falling commodity prices on the global market, slow recovery of EU economy, devaluation of Euro and Ruble against US dollar and also relocation of tanneries,” he said.In FY2015-16, the government has set the target to earn $13.26bn from knitwear products, which is 6.75% higher than $12.42bn of the previous fiscal year while it planned to fetch $14.10bn with a nearly 8% growth by exporting woven products.The government has set the export target of leather and leather products at $1.21bn with a growth of 7.28% and agricultural products at $595mn with 1.53% growth.The earning target from jute and jute goods has been set at $947mn with a 9% growth.The government also plans to earn $578mn from frozen food sector and $521mn from engineering products.
