$44bn export target set for 2018-2019 FY

UNB: The government has set a $44 billion export target for the fiscal year 2018-2019, keeping the readymade garment sector on top of the list.
Of the export target, $32 billion has been fixed for the readymade garment sector.
Commerce Minister Tofail Ahmed made the disclosure at a press conference at the Secretariat on Wednesday.
In the last fiscal year, Tofail said, the country’s export was $41 billion and the target was achieved. “The quantity of export will rise in the future and the country will earn $60 billion by 2021 through goods export if the growing export trend continues,” he said.
The government has decided to provide four percent cash incentive in case of export to new market from the existing three percent, he added.
Besides, the government has decided to provide 10 percent cash incentive to 36 export items from the existing 2, said Tofail.
In the 2017-2018 fiscal year, the total export to the USA was 5.98percent, Germany 5.89 percent , UK 3.99 percent, Spain 2.46 percent, France 2.01 percent , Italy 1.56 percent, China 0.69 percent, Japan 1.13 percent India 0.87 percent, Korea 0.25 percent , Canada 1.12 percent Malaysia 0.23 percent , Australia 0.72 percent and Belgium 0.88 percent
President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Md Siddiqur Rahman and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Shafiul Islam (Mohiuddin) were present.