The cabinet has approved a new export policy for the next three years, aiming for an export target of US $ 110 billion by fiscal 2026-27.
The cabinet meeting was chaired by Prime Minister Sheikh Hasina at her office in the capital.
Following the meeting, Cabinet Secretary Md Mahbub Hossain informed reporters at the Secretariat that the existing export policy had expired on 30th June, necessitating the implementation of a new policy, which was accepted with a few minor changes.
Mahbub Hossain stated that the export objective for the previous fiscal year was US $ 80 billion. The final computations for the current fiscal year have yet to be completed. According to the Ministry of Commerce, exports in the previous fiscal year (2023-24) totaled US $ 63 billion, with plans for more than US $ 70 billion this time. The cabinet secretary stated that the new policy has special provisions to maintain export competitiveness and promote exporters, particularly as Bangladesh moves to developing nation status and loses several export privileges.
“Another focus is on expanding software exports and promoting the export of electronic devices, as per the Prime Minister’s directive. Special facilities will be provided for women entrepreneurs and exporters,” Mahbub Hossain added.
