'BD to get LDC trade facilities until 2029'

Commerce Minister Tofail Ahmed has said Bangladesh will get trade facilities as a least developed country (LDC) until 2029.

The minister said this while addressing the National Export Trophy 2014-15 distribution ceremony on Sunday.

The Export Promotion Bureau organised the programme at Osmani Memorial Auditorium in the city, reports UNB.

A total of 63 companies were awarded trophies for their extraordinary contributions to the country's export sector in the fiscal year 2014-15.

"After graduation from the LDC, we will go for Free Trade Agreements with other countries. By 2021, our export will cross US$60 billion and we will work to achieve the goal," Tofail said.

The minister said the interests of exporters and traders will be protected in the upcoming Import and Export Policy to ensure a business-friendly atmosphere in Bangladesh.

While speaking as the chief guest, the minister said in many sectors Bangladesh has achieved its export targets and there will be higher targets in the future.

He also said necessary steps have been taken to diversify products and market.

The government is giving top most priority to some sectors, including information technology, pharmaceuticals, agriculture, plastic, leather, and furniture, and these sectors are being given direct support from the government, he added.

In the future, investors in Bangladesh Export Promotion Zone Authority (BEPZA) will also be given the national export trophy, Tofail said.

President of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Md Shafiul Islam Mohiuddin, who attended the progamme as special guest, said the country's export now largely depends on textile and RMG which is a matter of deep concern.

He stressed the need for diversifying the export items to create more export opportunities.

Mohiuddin also demanded harassment-free business environment where the regulatory bodies will not give any unpredictable decisions or issue orders, affecting the export business.

To ensure a sustainable growth of the export trend, the FBCCI President also stressed the need for ensuring supply of electricity and energy to the traders at affordable price and adopting innovative technologies to develop the sector.

At the function, trophies were awarded to the companies under 28 product categories where Zaber and Zobair Fabrics Limited received the gold trophy as the best exporting company for its highest export earnings in fiscal 2014-15.

The other 62 companies received gold, silver and bronze trophies under different categories, including woven garments, yarn, textile fabrics, home textile, terry towel, frozen foods, raw jute, jute goods, finished leather, leather goods, footwear, agricultural products, agro-processed products, handcrafts, plastic products, electric and electronics products etc.

Vice Chairman of EPB Bijoy Bhattacharjee, Commerce Secretary Shubhashish Bose and President of Parliamentary Standing Committee on Commerce Ministry Md Tajul Islam, among others, spoke on the occasion.