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Export Policy in Bangladesh

World trade is persistently witnessing changes and developments caused by globalization and evolving free market economy. The Export Policy primarily aims at making the economic activities dynamic and outward looking to help Bangladesh survive in the rapidly changing and competitive global trading system. This calls for increasing involvement of women in trade expansion activities by reducing discrimination between men and women, which will play a positive role in the economic development of the country through strengthening our economic foundation.

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It will help our exporters and producers get equipped with more strength and competitiveness needed to face the challenges of the changing global trade. In this backdrop, the government is facilitating expansion of trade and taking necessary steps to modernize and simplify the country? s trade policy in accordance with WTO obligations and upholding country? s interest. Recently pressure from the buyers is mounting for improvement of quality of products, export of products free from any hazardous and toxic substances, including fulfillment of other standards and compliance-related conditions.

Comprehensive efforts are being made for increasing productivity and improving quality of products through fulfillment of various compliance conditions. Besides, our export market is influenced by world economic dynamics caused by globalization. Therefore, dynamics of global economy and international trade have to be monitored, and Bangladesh Missions abroad will have to play more proactive and effective role in this regard. Simultaneously, efforts will be made to hone the skills of the exporters on the rules and regulations of international trade.

There is no denying the fact that the present trading system, especially the export in business is experiencing increased use of modern technology and this, in turn, is helping the exporters become more competitive. On the other hand, the objectives of reducing cost of doing business alongside enhancement of the efficiency of exporters through increased use of modern technology in the export sector could be attained. The government is firmly committed to ensuring the maximum use of e-Commerce and modern technology to accomplish this objective.

Most importantly, the government is attaching more importance on converting our comparative advantages into competitive advantages through proper and efficient utilization of manpower. In order to sustain our current export growth, we need to augment the production capacity of local export-oriented industries, give more emphasis on protection of environment of the factories including execution of compliance requirements, improve the quality of the products, and above all strengthen our efforts to diversify products and their markets.

All these objectives can be attained only when we can utilize our cheap labor to convert its comparative advantage into competitive advantage. In doing so, labor-intensive exportoriented industries will be encouraged, massive training programs will be organized to enhance the skills of workers and various incentives will be doled out to encourage and diversify exports. Besides, loan facilities at reduced interests will be arranged, infrastructural development activities will be geared up and establishment of backward and forward-linkage industries will be encouraged.

Also, steps will be taken to develop utility services, install state-of-the art laboratories for controlling the quality of exports, set up product-based industrial zones or clusters, ensure easy availability of raw materials for exports, disseminate updated information to the producers on markets and technology on a regular basis, and ensure overall development of the Chittagong and Mongla Ports including further simplification of procedures for releasing goods.

The Export Policy 2009-12 has underscored the need for expanding export, increasing the productivity of export-oriented industries and facilitating the overall development of the export sector through capacity building of local export-oriented industries. Five Business Promotion Councils are already in place under public-private partnership to enhance the capacity and awareness of the exporters and mitigate the supply constrains paving the way for enhanced uninterrupted supply of export products. The scope of these councils will be gradually expanded.

Export statistics of the last few years reveal that export earnings have witnessed growths of 15. 69%, 15. 87% and 10. 23% during export years 2006-07, 2007-08 and 2008-09 respectively. The “Export Policy 2009-12” has been formulated on the basis of recommendations of a Consultative Committee comprising of representatives from the main industries/trade associations, chambers, research organizations, respective Ministries, Divisions and organizations so to ensure the sustainability of the export growth during the policy period.

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