The government has given approval to the new three-year term ‘Export Policy-2015-18’ aiming to turn the trading system of the country time-befitting besides easing liberalisation of export processing activities. The Cabinet Committee on Economic Affairs in its meeting on Wednesday gave the approval with Finance Minister AMA Muhith in the chair. This is to mention that the term of existing ‘Export Policy-2012-15’was over on June 30 this year. As per the provision, the old export policy will exist until new one is formulated. Emerging from the meeting, Moshtafizur Rahman, Additional Secretary of Cabinet Division, told reporters that the new export policy will be considered effective from July this year. to a query, Moshtafizur Rahman said opinion from all the stakeholders has been taken before finalising the policy. So the draft submitted as a proposal did not require any change during its approval. “The new export policy focuses enhancement of four country (Bangladesh, India, Nepal, Bhutan) sub-regional connectivity, attaining export target of US$6,000 crore by the year 2021, turning the Bangladeshi missions abroad more business-friendly, branding the country’s products, expansion of export trading through establishing import substitute industries and inspiring export-based foreign direct investment,” he said Besides, the new policy places emphasis on enhancing productivity of export-oriented industries, ensuring qualitative standard of export products and fair price, product diversification and market expansion, increasing the part of ICT and service sector in export, forming business promotion council, bringing dynamism in export trade through e-commerce and e-governance etc. The new export policy has comprised 12 highest priority sectors and 14 special developmental sectors side by side providing general facilities against export and export product-based facilities etc. The 12 highest priority sectors in the new export policy are high value added RMG accessories, software and IT-enabled services and ICT products, pharmaceutical products, shipbuilding, shoe and leather products, jute and jute-based products, plastic products, agro products and agro-processed products, furniture, home textile and terry towel, home furnishing and luggage. The 14 special development sectors are multifarious jute-based products, electronic and electric products, ceramic products, light engineering, value added frozen fish, printing and packaging, crude diamond and jewellery, paper and paper products, rubber, silk products, handicraft and cottage products, lungi and tent industry products and coconut coir. The 17 export prohibited products that have been identified in the new export policy are edible oil, wheat, onion, garlic, all sorts of pulses except processed one, general rice except the fragrant rice, jute seed, arms and ammunition-related products etc
