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Bangladesh aiming for $50 billion business for its 50th independence anniversary

If the government gives proper policy and financial support, exporters in Bangladesh are positive they would be able to achieve the goal to export goods worth $60 billion by 2021. Of Bangladesh's $60 billion export target for its 50th independence anniversary, $50 billion will be by way of exports of apparel items. However, exporters say they have to face several challenges every day and urged the government to facilitate non-traditional export goods to widen the export basket and help explore new destinations.

The country’s Export Promotion Bureau (EPB) has been conducting studines on products and market diversification to increase the country's overall shipments. The EPB is also conducting a study on how to increase the export of pharmaceuticals, jute and jute goods and leather and leather goods as these are promising sectors after garments.

Fazlul Hoque, Former President of Bangladesh Knitwear Manufacturers and Exporters Association, points out export of goods worth an additional $22 billion is possible in the next five years if the government gives policy support. Abdul Barik Khan, Secretary of Bangladesh Jute Mills Association, demanded increasing financial support for the jute and jute goods sector, as the sector has higher export potential. The government should encourage small and medium garment factories, as they play a vital role in supplying raw materials and accessories to bigger factories.