Highly testing export target

That said, let's move to the market shares we are planning to attain so as to brace up to the task. The US market absorbs one-third of our exports. Undeterred by a negative growth of 2.45 per cent in 2002-03 we are looking to achieve 9.27 per cent growth in export to the US during the current fiscal. What we are latching on is a sign of recovery in the US as reflected by the increase in orders and per unit price of RMG recently. Overall, we are targeting 12.60 per cent export growth representing US$6.46 in terms of industrial goods. Insofar as intermediary products go, we are aiming at the highest growth rate of 15.65 per cent in the current fiscal.

But the targets don't look unattainable if we take into account some positive developments taking place, especially in the market access and value addition areas. We shall have duty- and quota-free access to Canada as a new-year gift, duty-free entry into Australia and New Zealand from July, not to mention the special treatment we're going to receive from Thailand, Pakistan and India. Cash subsidies were given for the purposes of value addition to frozen foods like ready-to-cook-meal and the like. The Export Promotion Bureau (EPB) is going to have a complement of private sector experts which augurs well as it could ensure a voice from the chamber bodies to be heard. In the ultimate analysis, it is the 47 Bangladesh missions abroad which will have to do the salesmanship, especially in light of the increased market access we have obtained on paper. Unless the supply side is improved, the higher demand prospect will remain a mirage.

Tap here to add The Daily Star as a trusted source