Industry

New export policy: Focus is on providing equal support to all

The new draft export policy 2021-2024 has been approved with a special focus on providing equal policy support to all the export-oriented sectors, said Finance Minister AHM Mustafa Kamal.

Mustafa Kamal also said the annual export target has been raised to $80 billion from the existing target of $60 billion.

The minister came up with the information while briefing reporters after two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Public Purchase (CCPP) on Wednesday. Kamal presided over the meetings.

He said the CCEA approved the new draft export policy against the backdrop of the new reality on the global export market.

“Some new issues received priority in the new policy, while the 4th industrial revolution. Bangladesh’s graduation to a developing country from the least developed country (LDC) got the special attention,” he said.

The finance minister said some new items were added to the list of potential export sectors and how to expand the country’s export market by taking advantage of the fourth industrial revolution, and all these issues are among the core strategies of the new policy.

Adopting a working strategy to face the challenges of the post-graduation era was another issue mentioned in detail in the policy, Kamal said.

A sustainable export policy and facilitating ICT and freelancing, and the involvement of women entrepreneurs in export business are other import issues the new draft policy has focused on.

A special attention was also given on ease of doing business and investment, application of compliances and standards, priorities on production of intermediate and recycled products, promotion of food export in the proposed policy, said the minister.

He said the draft policy will be placed at the cabinet soon for finalising it.

Source: United News of Bangladesh