Govt. Targets to Export Goods Worth $100b by 2026

Commerce Minister Tipu Munshi today said that the government has a target of attaining manufacturing goods exports worth $80 billion by 2024 and $100.0 billion by 2026.

The Minister said this while speaking at the "Meet the Overseas Correspondents Association of Bangladesh (OCAB)" at Jatiya Press Club in the city today.

Tipu also said that there was a potential to increase Bangladesh's exports to the Indian market to $4 billion in the next three to four years.

Regarding the recent India visit of Prime Minister Sheikh Hasina, the commerce minister said that they had discussed connectivity while the Indian side expressed their keenness to work with Bangladesh.

Tipu Munshi said that the issue of free transit was discussed and India agreed to allow Bangladesh to do business with Nepal and Bhutan through using its territory.

He said that the prime ministers of Bangladesh and India discussed over the antidumping duty imposed by New Delhi on Bangladesh's jute products in 2017 and hopefully the issue will be solved.

The Commerce minister noted that the agriculture ministry was entitled to set the prices of agricultural products.

"I eagerly wanted to set the reasonable prices of commodities but recently I have received some official documents and found that the agriculture ministry is entitled to set the prices of agricultural products," he added.

Regarding the fresh price hike of eggs in the market, he said that he was willing to import eggs from India if the import prices of the item are lower than the local prices.

"I will talk with the agriculture ministry. If the agriculture ministry is positive we want to import eggs," the commerce minister said.

He said that the prices of foods increased in the global markets due to the Russia-Ukraine war and the situation would not change overnight.

"The government is well aware about the situation and we are trying to tackle it (situation)," Tipu Munshi said.

Recently, the prices of commodities slightly decreased in the global market but Bangladeshi consumers were not getting the benefits of it due to the appreciation of dollar against taka, he said.

The minister said that the price of US dollar was fluctuating in every country alleging that some of the dishonest business men in the country were trying to take advantage of the volatile price situation of dollar.

"Under the circumstances many quarters have suggested the government to reduce dependency on dollar. Finance ministry was working on the proposals and hopefully a result will come," the commerce minister said.

Quoting the World Bank, Tipu Munshi said that economic slowdown might take place in the world in 2023 and the Bangladesh government was working to increase its agricultural production and exports to tackle the situation.

OCAB Convener Kadir Kallol, member secretary Nazrul Islam Mithu and senior member Farid Hossain, among others, were present at the event.