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The government has selected 17 products to promote in the post-Covid era and to enhance their exports after Bangladesh graduates from the least developed country (LDC) to lower middle income status, officials said.
The products are selected from a list of items, provided by the Bangladeshi commercial counsellors from twenty countries, where export of these goods can be enhanced significantly, if required policy supports are given.
The products include: antibiotic, electronics, furniture, ceramics, leather goods, footwear, frozen fish and crustaceans, woven fabrics of jute and jute yarn, sacks and bags and jute articles, pharmaceuticals, plastic goods, toys, bicycle and motorcycle, fruits and vegetables, paper and cardboard, and Information Technology (IT) and IT-enabled services.
A senior official of the Ministry of Commerce (MoC) told the FE that the government sought ideas and suggestions from the commercial counsellors about the products, which have the potentials for raising exports in their respective countries.
The counsellors sent lists of several dozens of products, from which the MoC has primarily picked 17 items for promotion.
Now the ministry officials are working on to identify the barriers that the products face in those twenty countries as well as find ways to remove the obstacles.
The official said during the pandemic period the country’s export is already facing axe and various challenges.
After graduation from the LDC club the challenges will deepen further. So, diversification of export products and destinations will be key factors.
Efforts need to be given to enhance export by providing as much as policy supports needed and removing all obstacles, he also said.
“We have to give supports to raise export, keeping in mind what our competitors provide.”
He noted that a specific action plan will be taken to promote the products in the countries, where they have immense potentials to be exported in increased volume.
These products can be given required cash incentives so that they can compete in their targeted destinations.
“We are working on keeping in mind all the regulatory requirements, tariff preferences, existing tariff, and documentary requirements to promote these products,” he added.
(FE)
