‘$44b export target set for FY19’

Published: August 08, 2018 18:24:12 | Updated: August 13, 2018 10:59:42

Commerce Minister Tofail Ahmed on Wednesday said the government has set an export target of US$44 billion for fiscal 2018-19 (FY19).

“Of the total, $39 billion is targeted for goods export while $5.0 billion for service sector,” he said at his secretariat office after a meeting that finalised the new target, reports BSS.

In the current fiscal (FY19), he said, the government has decided to provide 10 per cent cash incentive to nine new products along with the existing 27 items.

The new products are soft shell crab, pharmaceutical items and its raw materials, ceramic items, galvanised iron coil slit shit, photovoltaic modules, razor and razor blades, chlorine, hydrochloric acid, caustic soda and Hydrogen peroxide etc.

In fiscal 2017-18 (FY18), export earning was $40.94 billion against the target of $41 billion. The growth in goods export was 6.36 per cent while in the service sector it was 7.43 per cent. The overall export growth was 6.47 per cent.

Commerce Secretary Shubhashish Bose, FBCCI President Shafiul Islam Mahiuddin, BGMEA President Siddiqur Rahman, EPB Vice-Chairman Bijoy Bhattacharjee, Additional Secretary Tapan Kanti Ghosh,  among others, were present.

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