September 18, 2022
1 min read

Bangladesh sets $100 bn export target by 2026

Last year, Bangladesh fetched home about 60 billion US dollars from goods exports, he said, adding that readymade garment export makes up 82 per cent of the country’s annual income….reports Asian Lite News

Bangladesh has embarked on a high growth path with an aim to double its export earnings in just four years, country’s Commerce Minister Tipu Munshi said.

Addressing a meeting with the Overseas Correspondents Association of Bangladesh (OCAB) at the National Press Club in Dhaka on Saturday, he said the government has planned an export target of 100 billion US dollars by 2026.

“We’re planning an export target of 80 billion US dollars by 2024 and 100 billion US dollars in 2026,” Xinhua news agency reported quoting the minister.

Last year, Bangladesh fetched home about 60 billion US dollars from goods exports, he said, adding that readymade garment export makes up 82 per cent of the country’s annual income.

He said ready-made garments (RMG), including knitwear and woven, would be given a special priority as always to achieve goods export target.

“We’ve potential to export more readymade garments,” said the minister, adding the country’s ready-made garments industry sector looks bright further as China has already announced to raise duty-free access to 98 per cent Bangladeshi products.

Apart from this, he said China’s garment industry is relocating.

“As a result, our chances have increased. We’ve skilled manpower, and low cost of production.”

As part of various efforts to bolster export, the minister said the government is taking special initiatives to increase the export of 10 products including ICT, leather, plastic, light engineering and jute.

“Bangladesh has already started working to address challenges hindering export growths,” he said, adding they are attaching very importance to sign more PTA (preferential trade agreement) or FTA (free trade agreement).

“We have already preferential trade agreement with Bhutan. Negotiations are underway seriously to conclude trade agreements like PTA or FTA with several other countries.

ALSO READ: Pakistan rejects flood donation from Bangladesh

Previous Story

Death toll in Pak floods passes 1500

Next Story

Kerry cautions against long-term gas projects in Africa

Latest from -Top News

Chad Ends French Military Presence

In November 2024, Chad announced the end of the security and defence cooperation agreement with France…reports Asian Lite News Chad on Thursday announced a full withdrawal of French troops from the Central

UAE receives first Rafale jet 

In a landmark deal with France’s Dassault Aviation, the UAE Ministry of Defence has inaugurated its first Rafale fighter jet, marking a major step in modernizing its military capabilities. The acquisition includes

DXB sets new benchmark, targets 100m passengers 

Dubai International (DXB) has broken its own record, welcoming 92.3 million passengers in 2024, reaffirming its place as the world’s busiest airport for international travel.    Dubai International (DXB) has marked a

Third Gaza hostage exchange complete 

A significant moment unfolded as Palestinian prisoners were welcomed in Ramallah, while Israeli Prime Minister Netanyahu celebrated the return of three Israeli hostages freed from Gaza.  On Thursday, a significant moment unfolded
Go toTop

Don't Miss

People will make Awami League triumph again: B’desh Minister

Asaduzzaman exuded confidence that people of the country will not

Bangladesh Turmoil Puts $13 Bn At Stake  

India had a $9.2 billion trade surplus with Bangladesh in