The government has been providing cash incentives in various sectors to encourage export but exporters allege only the readymade garments (RMG) sector is being prioritized.
There is a scope for Bangladesh to export products that have a wide range of possibilities and demand in the foreign market but the government is not paying attention there, according to analysts.
Although there has been much headway in export earning, the diversification of products has been quite slow.
Businesses are reluctant to undertake new initiatives which have led to the same products circulating in the market.
Jute exporter Khorshed Alam told Bangla Tribune that the government hasn’t been paying satisfactory attention to the sector which is capable of contributing to the economy significantly.
Frozen fish exporter MA Malik who owns Sonali Traders said, “The fisheries can make significant contribution to the economy but the government providing necessary coopration under many pretexts.”
Swades Enterprise owner and animal hide exporter Sanoar Hossain says that the government needs to pay more attention to them.
“Unfortunately the government is only focusing on the RMG sector. It’s true that they contribute most to the economy but new export products must be created as well,” he said.
Meanwhile, BGMEA President Rubana Huq says that it’s given that that the government will focus on the RMG sector as it contributes to nearly 90 percent to the export.
“Moreover, the employment of 4 million people is tied to this sector. That must also be taken into consideration,” she said.
Commerce Minister Tipu Munshi, however, says that the government has taken a diversified approach to increase the number of export products.
“The government has marked 12 sectors that are promising and is providing significant incentives to them,” he said. “It’s not true that the government is only prioritizing the RMG sector”.
Commerce ministry sources said that the government was also focusing on the export of high end readymade garments and accessories, software and IT enable services, medicines, ship, animal skin and shoes, jute, farming and agro processed products, furniture, home textile and furnishing and luggage.
They have also marked jute products, electronics, ceramics, and 11 other products as possible export commodities capable of contributing to the economy.
Meanwhile, halal meat, IT products and services, and several other sectors are claiming that they are not getting enough help from the government.
Export Promotion Bureau of Bangladesh Vice Chairman Bijoy Bhattyacharya said that 30 sectors have been given priority in the export policy and for the first time tourism, engineering and ICT has been added to the list of developing sectors.
He said that factors such as how much unemployment the export product will solve must also be taken into consideration.
“It’s important that most of the facilities will be available in the country,” he added.
EPB and BGMEA figures showed that Bangladesh earned 2.21 percent more than its goal in the 2015-16 fiscal year which was $ 33.5 billion.
The target for 2016-17 fiscal year was set at $ 37 billion most of which was dependent on the RMG sector which couldn’t be fulfilled and the target for the 2018-19 fiscal year has been set at $ 39 billion.