Bangladesh eyes $80bn exports by 2024

Bangladesh government has set a target to raise annual export earnings to $80 billion by 2024 in its latest export policy that eyes on creating equal opportunities for emerging export items.
The Cabinet Committee on Economic Affairs approved the draft of "Export Policy 2021-2024" on Wednesday, setting the new export target.
It also took into account new global economic reality and the country’s LDC graduation challenges. 
At a post-meeting press briefing, Finance Minsiter AHM Mustafa Kamal said the export target for the current fiscal year has been set at $60 billion in the draft policy.
In early July last year, the Ministry of Commerce set $51 billion export target for the current fiscal year (FY2021-22).

“We’ve cleared a draft export policy for the 2021-2024 period raising our (annual) export target from existing $60 billion to $80 billion,” finance minister said.
“We’ll try to do everything required for achieving the target,” he added.
For achieving the export target, the government will emphasise recycling and research and development, Kamal noted.
Besides, all exporters will get uniform facilities under the export policy, the minister said.
The government will provide policy support to meet the challenges of the Fourth Industrial Revolution (4IR), Kamal said.
Bangladesh’s exports rebounded in recent months as it started recovering from the shocks of the pandemic.
The data showed that the export earnings in the just-concluded calendar year 2021 stood at a record $44.22 billion.
The month of December witnessed the highest-ever single month export earnings of $4.9 billion, surpassing the monthly target of $3.91 billion by a big margin.
Finance minister ruled out the concern of Planning Minister MA Mannan that Bangladesh might fall in the middle-income trap.
The finance minister informed that the number of chapters in new policy was increased from eight to nine accommodating some more priority and potential sectors.