The government yesterday set the export target for this fiscal year at $37 billion, which is 8.06 percent higher than receipts in the immediate past fiscal year. The commerce ministry has set the highest export target for the garment sector at $30.3 billion, which is 8 percent higher year-on-year. The apparel sector’s contribution to national exports was 82 percent in the immediate past fiscal year. The knitwear export target has been fixed 6.09 percent higher at $14.16 billion this year and woven products at $16.2 billion, which is a 10 percent rise from last year.Garment exports also increased in terms of volume last fiscal year. In fiscal 2015-16, Bangladesh exported 3.53 billion units of garment, up from 1.57 billion units in fiscal 2014-15.The overall volume also registered 88 percent growth in 2015-16 compared to 2014-15. In 2015-16, Bangladesh exported 6.9 billion units from 3.66 billion units in fiscal 2014-15. “We are hopeful of crossing the target this time too,” Commerce Minister Tofail Ahmed said at a press meet at his secretariat office in Dhaka. “Brexit will not affect our export to the UK because we have a very warm relationship with Britain. I hope the British government will continue the duty benefit for Bangladesh. And if England withdraws the trade privilege, we will renegotiate with the British government to reinstatement the benefit.”Ahmed is confident about a continuation of duty benefits because more than 200 British companies are operating their businesses in Bangladesh. The recent terrorist attack in Gulshan will not affect the export trend, as it is not a unique problem for Bangladesh, but a global one, the minister said. The minister mentioned the assurance of the Alliance members, as the club of 28 North American retailers and brands committed on Wednesday to continue sourcing garment items from Bangladesh despite the terror attack where 20 people were killed, mostly foreigners. Ahmed said exports to the US, the single largest destination for Bangladesh, were not affected despite the suspension of the generalised system of preferences. Last fiscal year, Bangladesh exported goods worth $6.2 billion to the US, which is 7.5 percent higher than the previous year. Bangladesh exported goods worth $5 billion to Germany, the second largest destination, and $3.8 billion to the UK, $1.99 billion to Spain, $1.8 billion to France, $1.38 billion to Italy, $1.1 billion to Canada, $1.01 billion to Belgium, $1.07 billion to Japan, $845.92 million to the Netherlands and $808.14 million to China.In response to queries from reporters, Ahmed said the government has increased the amount of cash incentives for some products such as jute and jute goods, leather and leather goods, furniture and ships for diversification of export products and reducing dependence on garment items. The export of leather and leather goods crossed $1 billion mark for the third consecutive year, he said, adding that it indicates that product diversification is taking place. Mosharraf Hossain Bhuiyan, senior secretary of the industries ministry, said the government will not allow tanning of rawhides, which would be collected during the upcoming Eid-ul-Azha. “The tanners will have to tan the rawhides at Savar Leather Estate.”
