Even as Bangladesh continues to face the challenges posed by the ongoing coronavirus pandemic, the Government has undertaken an initiative to create a strategy so as to cushion the export trade against possible external shocks.
Media reports maintained this adding the Commerce Ministry has already started preparing an Export Development Strategy (EDS) so that Bangladesh can absorb the shocks caused by the COVID-19 pandemic even as it will also aim to retain the duty-free market access and other trade facilities after the country’s graduation to a developing country.
Citing concerned officials, reports underlined the EDS is expected to address the key barriers to expansion of outbound shipments, with particular focus on export diversification, sector-wise competitiveness, economic recovery from COVID-19, LDC graduation and other priorities set out in the 8th five-year plan even as a time-bound implementation plan will be taken for the proposed EDS and keeping in consideration the LDC graduation and the fallouts of coronavirus, necessary measures will also be included in the EDS to guard against any possible external shock.
