Interim govt sets 12.4% export growth target for FY2024-25

The export income growth target for the fiscal year 2024-25 has been set at 12.4 per cent, said Finance and Commerce Adviser Salehuddin Ahmed. 

He expressed optimism that export earnings will not decline this year, despite global challenges. 

"In fact, exports will exceed previous levels. We expect positive developments, especially from the US," he added.

Salehuddin made these remarks after the 59th board meeting of the 146th Bangladesh Foreign Trade Institute of the Export Development Bureau (EPB) at the Ministry of Commerce on Sunday (September 8), responding to questions from journalists.

When asked about the export revenue target for the current financial year, the commerce adviser acknowledged some discrepancies in the data collection process. "We’ve discussed these informational issues, and we’ll continue to refine the process. Our goal is to present an accurate and unified picture, resolving any inconsistencies," he said.

Regarding the export target, Ahmed emphasized the need for logic and consideration of various export components. "We’re reviewing different products and addressing regulatory and tax-related barriers to enhance exports. Diversification remains our primary focus."

When questioned about his projection for export income, Salehuddin Ahmed confidently said, "The situation has improved, and we believe export growth will be robust this year, surpassing previous levels."

In response to a query about the Generalised System of Preferences (GSP) benefits in the US, Salehuddin explained that efforts are ongoing to secure these benefits. 

"We’ve already initiated discussions and hope that the US will take a positive stance on GSP. We’re also engaging with other markets regarding exports."

When asked about the anticipated growth rate for export income this fiscal year, Salehuddin confirmed that the target has been set at 12.4 per cent.