Export target fixed US$ 44 billion for FY19: Tofail

Commerce Minister Tofail Ahmed today said the government has set an export target of US$ 44 billion for fiscal 2018-19, reports BSS.

“Of the total, US$ 39 billion is targeted for goods export while US$ 5 billion for service sector,” he said at his secretariat office after a meeting that finalised the new target.

In the current fiscal, he said, the government has decided to provide 10 percent 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, export earning was US$ 40.94 billion against the target of US$ 41 billion. The growth in goods export was 6.36 percent while 7.43 percent in service sector. The overall export growth was 6.47 percent.

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