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Export earnings may grow by 12.4 per cent in FY 25 

Published : Monday, 9 September, 2024 at 12:00 AM  Count : 237
Business Correspondent
Finance and Commerce Advisor Dr Salehuddin Ahmed said export earnings may grow by around 12.40 percent in fiscal 2024-25 pointing out that the perspective has changed to suggest that export earnings will not decrease.

He said it will be rather more as the USA will have a positive view from all sides to help the country's economy. The advisor said this in response to questions from reporters after the 146th meeting of the Export Promotion Bureau (EPB).

The 59th board meeting of Bangladesh Foreign Trade Institute also took placed on the occasion in the Ministry of Commerce at Bangladesh Secretariat on Sunday. He was talking to reporters after the meeing.

To a question as to whether export target for 2024-25 has been fixed in the meeting, the advisor said there were some informal discussions and more discussion will be held before fixing the targets. We need more information about it, he said.

He said we need opinion from broader section of business organizations and financial institutions to remove conflicting trade statistics and arrive at consistency about export figure. We must remove the misleading statistics, he said.

Salehuddin said export target will be surely reasonable. There are various export components, different products; I will look at them. We will review the regulatory system and tax-related obstacles dominating exports. Another point is that exports should be diversified, that is our aim. Growth of export target this year may be around 12.4 percent, he said.

To a question, he said export growth will be fairly good. It will be obviously more than during last fiscal. On a question about GSP benefit for Bangladesh export access to the US market, he said the interim government will try it again. We hope the US government will look at it positively this time.

Replying to another question, the finance and commerce ministries adviser said that the Dhaka International Trade Fair (DITF) would take place in January 2025 but the date for final inauguration is yet to be finalized.

In the upcoming edition of DITF, there would be some innovative things while the main focus would be on promotion of local industries and exportable items, he added.



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