Dhaka: The government has set a target to ensure the shipment of US$63.5 billion for the current fiscal year 2025-26 (FY26), marking a 16.5 percent increase from the overall receipt in the previous fiscal year 2024-25 (FY25). In the presence of Commerce Adviser Sk Bashir Uddin, Commerce Secretary Mahbubur Rahman announced the new target at a press conference held at the Ministry of Commerce in the city.
According to Bangladesh Sangbad Sangstha, of the new target, $55 billion is expected to come from goods and $8.5 billion from services. The targets were set following discussions with stakeholders from relevant sectors. Starting next week, the ministry plans to hold meetings with industry leaders to identify key bottlenecks for each sector and work with the concerned agencies to resolve them.
Commerce Adviser Sk Bashir Uddin described the target as "quite conservative" and expressed hope that actual exports would exceed expectations. He noted that Bangladesh is focusing on market expansion for non-traditional products and exploring new destinations. "Negotiations for free trade agreements (FTAs) are ongoing with Japan, South Korea, and Singapore," he added, although he cautioned that not all FTAs may be favorable for Bangladesh.
The adviser emphasized maximizing duty-free market access, particularly in the UK and EU, and mentioned that discussions are underway to lower the United States' reciprocal tariff from 20 percent to 15 percent. Senior officials of the Ministry of Commerce and leaders from various business sectors were also present on the occasion.
Industry leaders expressed optimism about achieving the target but stressed the need to address domestic challenges, particularly the gas crisis, banking sector instability, customs inefficiencies, and law-and-order issues.