Cabinet economic affairs body to consider new export policy today
The tenure of the
last 3-year term export policy
(2012-15) already expired on June 20
UNB
The Cabinets Economic Affairs Committee is set to consider the proposed Export Policy 2015-18 in its meeting today, reports UNB.
Official documents obtained by UNB show that 11 sectors including ICT, pharmaceuticals, light engineering, agro products, herbal products, and ship-building are set to get priority as the most potent sectors in the proposed new export policy for a 3-year term.
The commerce ministry has already moved a proposal in this regard to the Cabinet Division, to place the proposed final draft of the export policy 2015-18 for the Cabinet body.
Once the proposed policy is approved by the cabinet body, it will come into effect after getting approval of the Prime Ministers Office, said a top official at the Cabinet Division.
Executive summary of the new policy reveals that capacity-building of the export-oriented industries, ensuring fair price for the export products maintaining qualitative standards, and product diversification and market expansion are the core targets of the new proposed export policy.
Determining the priority of the ICT-based products and services, and making the countrys foreign missions, particularly their commercial wings, proactive in expediting exports and establishing relations with reputed and famous international firms have been accorded the highest importance in the proposed policy, said officials.
The tenure of the last 3-year term export policy (2012-15) already expired on June 20 this year. As per the government decision, the last one will remain effective until the new one comes into effect.
The countrys exports experienced 5.99 per cent growth in 2011-12 fiscal, rising to 11.22 per cent in 2012-13 and 11.69 per cent in 2013-14. But without mentioning anything about the growth in 2014-15 fiscal, the Commerce Ministry said the country increased export earnings in 2014-15, despite falling short of its target.
The Commerce Ministry started the job for preparing the draft of the new export policy on June 30, 2014. In more than one year, the ministry sought proposals from 84 organisations including government entities and private sector trade and chamber bodies. But proposals were received primarily from 15 organisations, including Bangladesh Bank and finally 28 public, private bodies sent their proposals to the Commerce Ministry.
Apart from this, the Commerce Ministry held brain-storming sessions
and consultation meetings with the think tanks, research organizations, and trade and chamber bodies to gather their suggestions for the new export policy.
Sources said the government for the first time accommodated some service sectors as special development thrust sectors.
Under this initiative, tourism sector, architecture, engineering and consultancy services have been accommodated under the development sector. In addition, the ICT-based export service sector and e-commerce also received special attention in the new proposed export policy.
A promised has been made in the proposed export policy to establish an accredited testing laboratory of international standard, and creating infrastructure for promoting export has been emphasized.
