DHAKA, Sept 8, 2024 (BSS) - Adviser to the interim government on the 
Ministries of Finance and Commerce Dr Salehuddin Ahmed today said that the 
export prospects is comparatively better in the current fiscal year (FY25) as 
it will increase with the changing context.

"Regarding export prospects, we've realized that it will be comparatively 
better as the context has already been changed as well as the 
situation...exports will not decline further, rather it will increase," he 
said.

The Commerce Adviser was replying to a good round of questions from reporters 
after chairing the 146th board meeting of the Export Promotion Bureau (EPB) 
and 59th Board meeting of the Bangladesh Foreign Trade Institute held at the 
Ministry of Commerce conference room at Bangladesh Secretariat today.

Replying to another question, Dr Salehuddin informed that the export target 
for the current fiscal year is being projected considering a healthy growth 
of 12.4 percent.

He said the government would set a reasonable target for exports in the 
current fiscal year after reviewing the growth for various components and 
addressing the existing barriers.

The Commerce Adviser said that the government would also continue strides for 
diversifying its export basket to extend further the export volume.

"We'll have to reduce our export dependence on one or two products," he 
added.

Dr Salehuddin said potential products and commodities would be promoted to 
expand the export basket.

About the meeting outcomes, he said the government would publish the export 
data and project a true picture of the country's export earnings after 
coordinating and reconciling all the available data from the EPB, NBR and the 
Bangladesh Bank.

He also acknowledged that there have been some mismatches in the calculation 
of export figures in the past while integrating the export data of all 
concerned agencies.

Responding to another question, he said whatever mismatches in export data 
took place is a matter of the past and it would not reoccur in the future.

When asked whether the US will provide the GSP facilities afresh, he said 
efforts are on and hopefully there would be a possible gesture from the US 
government in this regard.

He informed that the US has some conditions and quarries in this regard which 
are not so tough while discussions in this regard would be held during his 
upcoming tour to Washington. The US has some issues on decent work other than 
readymade garments (RMG), he added.

Replying to a question, the Adviser said efforts are on to boost the FDI 
inflow in the country while the Bangladesh Investment Development Authority 
(BIDA) would be energized further in this regard.

Asked about the market management of essential items, he said the government 
has already reduced and withdrew duty on some essential items like potatoes.

"There are also some issues like extortion ...there are also some barriers, 
the local administration has also been involved. It will take some time to 
contain the prices of essentials. Our efforts will continue so that the 
consumers need not to suffer," he added.

The adviser told another questioner that the confidence in the banking sector 
is being restored as many of the boards of the banks are being reorganized by 
the central bank while the culprits of the banking sector are being 
identified and nabbed.

In this regard, he said a task force will be formed to identify those who 
have laundered money abroad and thus bring back the siphoned off money.

He said apart from local experts, foreign experts might be recruited if 
necessary.

Dr Salehuddin said the structure of task force has been finalized and it has 
already started it process although the experts and personnel of the task 
force would be unveiled by the Bangladesh Bank.

He, however, opined that it is not easy to recover the stolen assets and it 
takes certain time. "But, the operations in this regard we'll be visible 
soon," he added.

Replying to another question, the finance and commerce ministries adviser 
said that the Dhaka International Trade Fair (DITF) would take place in 
January 2025 but the date for final inauguration is yet to be finalized.

In the upcoming edition of DITF, there would be some innovative things while 
the main focus would be on promotion of local industries and exportable 
items, he added.

Commerce Secretary Md Selim Uddin and senior officials concerned attended the 
meeting.