The country’s export to the European nations during first two months of the current fiscal (July-August) has fallen down slightly comparing to that in the corresponding period of last fiscal, posing an uncertainty over the target of earning foreign currencies in the year. According to data of the Export Promotion Bureau (EPB), the country has earned foreign currencies of $2,895,321,015.94 during the July-August period of the current fiscal year while the amount was $2,925,179,058.21 in the previous fiscal year. EPB data suggested that the country’s earning during the July-August period of the fiscal year 2013-2014 was $2,734,015,479.84. According to information, the country’s export earning target was set keeping only around seven percent growth of the earning of the last fiscal year. Data shows, the country’s overall export earning during the fiscal 2014-2015 was $31,208 million while the Ministry of Commerce has set the target for the current fiscal at $33,500 million. As EU market is the largest market for the country to earn the foreign currencies, fall in earning foreign currencies from the abovementioned market made exporters worry in going in line with the target of the export earning of the fiscal year. The EPB data said that Bangladesh exports its products to all EU countries where Germany is the largest destination country that contributes a substantial amount of foreign currencies by purchasing Bangladeshi products. It is primarily a matter of worry, said Abdus Salam Murshedy, President of the Exporters Association of Bangladesh, adding it is easy to overcome the confusion within the remaining months. Garment item is the main source of earning foreign currencies, said Murshedy, adding the country’s garment sector is going through a transition which is a reason for such backdrop in earning foreign currencies from EU buyers. But the scenario is going to be changed as the buyers are getting confidence again after the inspection of Accord, Alliance and the government of Bangladesh, he added. Calling upon the government to provide cash incentives for the exporters of EU markets, Murshedy said the government can do it temporarily to help the exporters overcome the situation.
