Export target set at $110b for 2027
"The objective of this policy is to create massive employment through export growth, establish a well-balanced trade between imports and exports, and contribute significantly to the national economy by earning foreign currency," Chief Adviser's Press Secretary Shafiqul Alam said
The advisory council of the interim government has approved the draft of the 2024-27 export policy, setting a shipment target of $110 billion for the final year, aligning with its economic development goals and the global trade context.
"The objective of this policy is to create massive employment through export growth, establish a well-balanced trade between imports and exports, and contribute significantly to the national economy by earning foreign currency," Chief Adviser's Press Secretary Shafiqul Alam said at a press conference on Thursday (3 October).
"Furthermore, the role of the export policy is crucial in enhancing capacity in export trade and strengthening Bangladesh's position in the competitive global market, alongside fostering the development of the country's economic activities," he added.
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Elaborating on the salient features of the proposed export policy, the press secretary said an export target of $110 billion has been set for the final year of the 2024-27 period.
Other features include guidelines for alternatives to financial incentives to encourage exporters in line with WTO rules, and specific policies are recommended for engaging women and small entrepreneurs in exports.
Several sectors have been incorporated into the export process. The highest priority sectors include emerging products and services such as vegetables and handicrafts, while special development sectors focus on spinning, fabric manufacturing, and dyeing-printing finishing. Additionally, the highest priority service sectors and special development service sectors are also emphasised.
Support measures for export expansion have been outlined, with sector-specific recommendations. The pharmaceutical industry, medical equipment, and handicrafts have been newly included in this section. Additionally, a new chapter has been introduced to address measures for expanding service sector exports.
The "Export Prohibited List" and "Conditional Export List" have been updated with corresponding HS codes. The responsibilities and terms of reference for the National Committee on Exports, the Monitoring and Evaluation Committee, and the Technical Committee on Exports have also been included.
Wasa law amendment
The advisory council meeting presided over by Chief Adviser Professor Muhammad Yunus at his office also gave its in-principle and final approval to the draft of the "Water Supply and Sewerage Authority (Amendment) Ordinance 2024."
Water Supply and Sewerage Authority (Wasas) in Dhaka, Chattogram, Khulna, Rajshahi, and Sylhet are playing an important role in the proper management and maintenance of safe water supply and sewage systems for the city dwellers. The activities of Wasas are governed by the "Water Supply and Sewerage Authority 1996" and various rules made under this Act.
Speaking about the move, the press secretary said, in the current context, some amendments to the Act are necessary in the public interest to ensure proper civil services and administrative activities within the jurisdiction of Wasa.
The following are the features of the amended ordinance: the government may remove and appoint the managing director of any Wasa in the public interest; it may also remove and appoint any officer or employee of Wasa in the public interest; and the government can dissolve any Wasa board in the public interest.
Agreement on bringing Bangladeshis back from Maldives
The council also approved the draft agreement titled "Agreement between the Government of the Republic of the Maldives and the Government of the People's Republic of Bangladesh on Transfer of Prisoners" to bring back Bangladeshi prisoners who have been detained in the prisons of the Maldives.
The Bangladesh Embassy in the Maldives stated that Bangladeshi nationals have been detained in various jails in the Maldives for a long time on various charges, and the inmates have expressed their desire to serve the remainder of their sentences in Bangladeshi jails.
If the proposed agreement is signed, it will be possible to repatriate Bangladeshi convicts held in Maldivian prisons to Bangladesh, said the press secretary during a press briefing at the Foreign Service Academy.
