Export earnings to reach $ 70b next fiscal

Staff Reporter :
Commerce Minister Tipu Munshi on Monday said the country’s export earnings might reach $70 billion in the fiscal year 2023-24.

“We hope that, the export earnings of our country would increase up to an estimated of $ 70 billion in the next fiscal year,” he said.

The minister said that, the government has taken various initiatives in the last 14 years so that they reasonably hope that such an increase of export earnings would be happened.

The minister said, this while responding to a star-marked question at the National Parliament at the question-answer session.

The Commerce Minister said, the government has formulated a series of import policies aiming to strengthen the position of the country for bringing mobility in the export trade under competitive global market.

Tipu Munshi said, the government has encouraged the establishment of labour intensive industries to promote the export trade.
Even the national export trophy 2018-19 has been provided to encourage the exporters, he added.

The government has given importance to the service sector including information and communication technology, consultation service, construction and tourism for expansion of the export sector, the minister said.

He said that, the country’s export trade with the neighboring India also has increased significantly due to the SAFTA agreement signed among the SAARC countries.

“The government has developed the export development fund (EDF) to US $7 billion aiming to facilitate procurement of raw materials for the exporters,” the minister said.