Wednesday, February 5, 2025

Govt targets new markets to boost export

In line with its policy to diversify both products and markets to achieve higher export growth, the government wants to take a serious look at the idea of ‘One District One Product’. Since the country has a limited number of products in its export basket, the idea will help enlarge it and thus give a boost to export earnings, said officials at the Export Promotion Bureau and the commerce ministry.
‘We’re trying to develop some new products which have demands in the global market. In this regard, we’re utilising the scheme — One District One Product,’ EPB vice-chairman Shubhashish Bose told the news agency at his office on Thursday.
Describing the idea, Bose said they first identify which was the best product in a particular district and then create a favourable environment with modern facilities to boost its production ensuring the global standard.
For example, papor, an appetiser, is produced very well in Dinajpur and it is a family business for many in the northern district. ‘We’re taking it into our planning in a larger way to ensure better but quality production of papor which has huge demand in restaurants, owned by Bangladeshis abroad,’ said the EPB vice-chairman.
There are approximately 12,000 restaurants in London owned by Bangladeshis where they use Indian papor as an appetiser.
‘We can get the market if we’re able to produce standard papor. We hope to earn 250 million pounds (annually) through exporting papor alone in London,’ Bose said.
He said there were many other products in other districts also where the government was encouraging local producers through forming associations and providing necessary trainings and inspiring them to use modern technology.
There is another prospective product, agarwood, which has been used for centuries as incense, for medicinal purposes and in perfumery. The famous perfume ‘atar’ is made from agarwood in Sylhet.
‘First-grade agarwood is one of the most expensive natural raw materials. We’re emphasising proper utilisation of technology for its process,’ Bose said.
Agar products are being exported to a number of countries, including Saudi Arabia and the UAE, through informal channels. The EPB is encouraging the export of Agar products in a formal way.
An official at the commerce ministry said the government was constantly trying to diversify products and market as well as enhance regional trade to sustain the rising export growth.
‘It’s government policy to diversify products and markets to boost export earnings,’ the official said adding that the government will continue to search new export markets.
Asked about EPB’s initiative to find new export markets, its Vice Chairman
said they are trying to reach the markets in countries like Zambia, Mozambique, Senegal, Ghana, Ivory Coast, Algeria, Morocco, Tunisia, Brazil, Argentina, Colombia, Peru and Chile.
‘These are the countries where we’re looking for new markets,’ he said adding that Bangladesh can export products like readymade garment, leather and leather goods, jute and jute goods, ceramics and pharmaceuticals products.
Commerce minister Tofail Ahmed recently said Bangladesh’s export volume would one day hit $50 billion as the government was trying hard to diversify the country’s both products and export markets.
Bangladesh’s current major export items are RMG, jute and jute goods, leather and leather goods, frozen fish, fruits, home textile, ceramics and pharmaceutical products.

-With New Age input

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