The government has set an export target of $33.2 billion, eyeing a 10.02 percent rise from the last fiscal.
Commerce Minister Tofail Ahmed revealed the target for FY 2014-15 in a press conference at the Export Promotion Bureau (EPB) on Monday afternoon.
According the government estimates, the readymade garment (RMG) industry will be able to fetch $27 billion in export earnings by the end of the current fiscal.
Earlier on Monday, the figures were finalised at a meeting between the commerce minister and representatives of export-focused industries bodies’ including the BGMEA and BKMEA.
Officials from the ministries of finance, foreign affairs, agriculture, fisheries and livestock, jute and textile as well as the National Revenue Board and Bangladesh Bank also attended it.
The export target for woven garment for FY 14-15 has been set at $13.68 billion, while for knitwear it is $13.22 billion.
The target from jute and jute goods has been set at $835.30 million, eyeing a 1.32 percent increase from FY 13-14.
The EPB hopes that leather and leather goods export will be able to earn $625 million while for frozen fish, the estimation stands at $731 million.
Bangladesh has able to achieve its export target for FY 13-14 despite the political violence last year, according to the commerce minister.
“What is interesting is that exports earnings from the US rose after the country withdrew its GSP facility,” said Tofail.
The FY 13-14 saw $5.58 billion worth of exports while in the previous fiscal it was $5.5 billion.
Bangladesh’s export earnings surpassed the $30 billion mark for the first time in history in the just concluded FY 13-14.
According to figures by the EPB, exports stood at $30.18 billion during the last fiscal, rising by 11.65 percent from the previous fiscal.
Source: bdnews24