Editorial
Spurt in export growth
Give all assistance to sustain the upward trend
IT is morale-boosting news that the country's export has seen 14.66 percent growth during the July-April period, compared to the performance during the corresponding period last fiscal. During this period (FY 2007-2008) export earning was registered at US$ 11.37 billion and we feel it is no insignificant figure for a developing country like Bangladesh.
A study done by the Export Promotion Bureau (EPB) says that knitwear is the number one foreign exchange earning commodity at the moment, which alone fetched US$ 4.39 billion in July-April period, and at the same time export earning from woven garments reached the figure of US$ 4.19 billion, thereby registering a growth of 20 percent and 9.73 percent respectively. It is further heartening to learn that attracted by competitive price and quality, more and more overseas buyers of RMG products are coming to Bangladesh and placing large orders. Among them are many big names in the fashion world. As for other export items, like vegetables, petroleum by-products, tea, cut flower, foliage and textile fabric, there has been a 60 percent growth during the July-April period.
The growth indicators look healthy and are indicative of a steady upward movement that needs to be sustained to leave a long-lasting impact on the economy of the country. RMG being the second largest foreign currency-earning sector, it has to be given the required protection and support for expansion so that it can meet the envisaged 20 percent export growth up to 2013. At the same time the Export promotion Bureau should endeavour to develop and include more non-traditional items to the export list.
One thing that comes out clear from the export growth figures is that our business community can operate at the international level with ease and deliver with the minimum of facilities. We are confident they will do even better if the relevant government organisations can play well the role of facilitators. By all means, our export revenue should keep rising.
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