Government of the People’s Republic of Bangladesh
Ministry of Commerce
International trade regime is continuously undergoing huge changes because of globalization and liberalization of trade as well as gradual evolving of market economy. The Trade policy predominantly aims at making the economic activities dynamic and outward-looking in order to help Bangladesh survive in the rapidly changing and competitive global trading system. This necessitates increasing involvement of women in trade expansion activities through reduction of discrimination between men and women, No doubt the increasing involvement of women will play a positive role in the economic development of the country through strengthening our economic foundation. Besides, it will help our exporters and producers get equipped with more strength and competitiveness required to face the challenges of the changing global trade. In this backdrop, the government is facilitating expansion of trade. International trade is being carried out through different rules and regulations after the World Trade Organization (WTO) came into being. The Government is taking necessary steps to modernize and simplify the Trade Policy keeping in conformity with the WTO obligations and the country’s commercial interests. External trade is facing fierce competition in the context of trade liberalization resulting from globalization. Export Policy 2012-15 has been formulated with a view to consolidating, sustaining and expanding the export growth of Bangladesh in the competitive international trade regime alongside making the overall economic activities more dynamic and outward-looking.
Vision-2021 as envisaged by the present government aims at, among other things, elevating Bangladesh to a middle income economy by 2021 through socioeconomic development. Expansion of export trade is a must for achieving the higher growth rate of national income, and the current Export Policy has attached particular importance to the matter. All-out efforts are underway to improve the quality of the products through fulfillment of various compliance conditions alongside augmenting productivity for consolidating and diversifying the export. Besides, the changing trend of the global economy underpinned by globalization is impacting on our export market. Hence, the trend of global economy and internal trade will be monitored continuously. Simultaneously, initiatives will be taken to enhance the efficiency of the exporters regarding the rules and regulations of international trade.
Making quality products is one of the tools to enhance export trade. The Industrial Policy includes various steps for domestic industrialization, conducive to the increase of the production of exportables of the country. Diversified products of jute and leather industry are in high demand in the world market. To this end, guidelines have been given for capacity enhancement, technological development and exploring market access for jute and leather industry. Moreover, necessary steps have been taken for the development of the prospective export sectors such as light engineering industry, agricultural products and computer software etc. The present Export Policy will play a supportive role in strengthening and consolidating the economic foundation of the country through more integration of women into the commercial activities by way of development of small and medium enterprises (SMEs).
Sustaining the ongoing export growth will call for enhancement of the production capacity of the local export-oriented industries, greater emphasis on the protection of the environment of the factories, including fulfillment of the compliance requirements, improvement of quality of the products and, above all, strengthening of all-out efforts for the diversification of the products and their markets. All these goals will be achieved only when we can utilize our cheap labor to covert its comparative advantage into competitive edge. In doing so, labor-intensive export industries will be encouraged, massive training programs will be organized to hone the skills of the workers and various incentives will be doled out to encourage and diversify exports. Besides, loan facilities at reduced interest will be arranged, infrastructural development activities will be geared up, and establishment of backward and forward linkage industries will be encouraged. Also, steps will be taken to improve utility services, install state-of-the art laboratories for
controlling and testing the quality of exports, set up product-based industrial zones or clusters, ensure easy availability of raw materials for exports, disseminate updated information to the producers on markets and technology on a regular basis, and ensure overall development of Chittagong and Mongla Ports including further simplification of procedures for clearing goods.
Export Policy 2012-15 has underscored the need for expanding export, enhancing the productivity of export-oriented industries and facilitating the overall development of the export sector through capacity building of the local export-oriented industries. Five Business Promotion Councils are already in place under public-private partnership to enhance the capacity and awareness of the exporters, and mitigate the supply constraints paving the way for uninterrupted supply of exports. The scope of these councils will be expanded gradually. The export earnings of Bangladesh witnessed growths of 10.31%, 4.11%, 41.49% and 5.93% during fiscal years 2008-09, 2009-10, 2010-11 and 2011-12 respectively despite the fact that during these year many countries experienced negative growths in the context of the global downturn. Export Policy 2012-15 has been formulated on the basis of the recommendations of a Consultative Committee consisting of representatives from the main industries/trade associations, chambers, research organizations, concerned ministries and government organizations to ensure the sustainability of the export growths. It is expected that the Export Policy 2012-2015 will play pivotal role in employment generation and poverty alleviation achieving desired and projected growth of our export.
For more information, Please download the PDF file.