January 12, 2022
1 min read

Bangladesh to aggressively push exports

The new export policy was approved at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Finance Minister AHM Mustafa Kamal on Wednesday…reports Asian Lite News

The Bangladesh government has formulated a new export policy with a target to facilitate receipts of $80 billion annually by 2024.

A host of incentives including low interest loans under the new export policy has been planned to facilitate receipts of $80 billion annually by the 2023-24 fiscal year (July 2023-June 2024).

The new export policy was approved at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Finance Minister AHM Mustafa Kamal on Wednesday, Xinhua news agency reported.

“The draft of Export Policy for fiscal 2021-22 to fiscal 2023-24 has been approved in light of the current world trade situation,” Kamal said after the meeting.

In line with the new policy, he said all required measures will be taken to bolster potential export sectors for further development.

Priority sectors and special development sectors will be given special benefits including subsidies and tax benefits, the minister added.

Bangladesh’s previous export policy for fiscal 2018-19 to fiscal 2020-21 set an export target of $60 billion.

Bangladesh’s total exports in the first half of the current 2021-22 fiscal year (July 2021-June 2022) reached nearly $25 billion, up 28.41 per cent year-on-year, according to the latest official data.

Bangladesh set its export target in 2021-22 fiscal year to $43.5 billion, including $35.14 from readymade garment products, which usually account for about 85 per cent of the country’s annual shipments.

ALSO READ: ‘Partygate’ puts Boris in the dock

Previous Story

‘As actors we evolve with every year’

Next Story

Global passion for Russian literature

Latest from -Top News

Hamas Reiterates Peace Effort After U.S. Jab

Hamas Reaffirms Commitment to Ceasefire Talks After U.S. Criticism…reports Asian Lite News Hamas on Friday reiterated its commitment to the ongoing ceasefire negotiations, responding to remarks by U.S. Special Envoy to the

No smoking gun in Epstein files: Trump briefed

Attorney General Pam Bondi briefed Trump and Deputy Attorney General Todd Blanche at the White House in May….reports Asian Lite News US President Donald Trump was informed earlier this year that his

Israel, US recall teams from Gaza truce talks

Steve Witkoff said mediators had made a great effort but “Hamas does not appear to be coordinated or acting in good faith”…reports Asian Lite News Israel and the United States recalled their

Trump presses Fed chief to cut rates

Fed chair pushes back on Trump criticism of renovation costs as president presses central bank to cut interest rates…reports Asian Lite News Donald Trump sparred with the Federal Reserve chair, Jerome Powell,

Dubai turns malls Into fitness zones

Dubai’s Mallathon reimagines shopping centres as fitness zones, encouraging residents of all ages to walk, run, and connect—fostering healthier habits in air-conditioned comfort….reports Asian Lite News In a bold move to blend
Go toTop

Don't Miss

Intel alert on Hefazat radicals fleeing into India

A top official of a central intelligence agency said that

Rift in BNP over beef being served at Iftar event

BNP, the Opposition party in Bangladesh allegedly hosted non-Muslim community